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Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well as newly established oil tanker routes, which came as a result of the booming US oil production. In its latest monthly outlook, shipbroker Intermodal, noted that the continuously softening price of oil has been monopolizing head-lines for a while now, a very short period of less than five months, the price of the commodity has been slashed. The benchmark price of Brent has moved from $110 per barrel in the beggining of July $80 per barrel a couple of days ago, a sharp decline of more than 27% and a level last visited in September 2010.
In its analysis, Eva Tzima, Intermodal’s Research Analyst said that “the price of the loyal servant of energy which has been steadily climbing post the end of the Lehman market shock, has been a key driver of developments across the globe. Amidst a high priced oil environment other energy sources have started to steadily gain popularity and eventually a bigger share in the energy market. So what has pushed the price of oil down and most importantly how sustainable this new environment might be? The US shale oil revolution has come at a time when global growth prospects are ailing and the role of central banks remains vital in safeguarding the journey to economic recovery.As shale oil production started to account for a big share in the US market through, the US has significantly reduced its imports from OPEC countries exerting significant pressure especially on South American and West African oil exports. As expected, the increasing US output that reached its highest level in almost 30 years, has added to the global oil supply glut that was already being built up by the growth slowdown of economies in the likes of China and Europe and their consequent lesser demand for oil”, she said.
According to Tzima, “as excess supply started putting pressure on the price of oil lately, most were expecting OPEC producers to start curbing their supply in an effort to support prices. Instead, in the beggining of last month, Saudi Aramco, Saudi Arabia’s state-run producer and the world;s dominant exporter, didn’t meddle with its exports volume at all but moved ahead with cutting prices for all exports. Such decision is logically identified by most analysts as an effort by the Saudis to defend their global market share no matter what the cost is at this stage and it seems that so far this working. Asian oil demand has already increased, with Far East importing countries being lured back to higher import levels, helping crude carriers benefit not only from lower bunker prices but also from increase Eastbound demand. Most notably, and despite the fact that oil demand in China has been weakening throughout the year, the country’s import have started picking up significantly since mid-summer, roughly around the same time that oil prices started to slide. China started taking advantage of the current low price environment by quickly accelerating its imports in the 3-month period of July-September with the purpose to reinforce its strategic reserves”.
Intermodal’s analysts added that “at the same time, talks of US oil export ban being lifted seems to be warming up again. The incoming head of the Senate Energy Committee, Republican Senator Lisa Murkowski, who has been a big supporter of relaxing the ban, will be able to continue doing so in a more favorable environment following the recent win of Republicans in the control of the Senate. Although nobody believes that the 40-year ban could be easily relaxed, Senator Murkowski’s rising to this position comes at a timing that could only add pressure on overall sentiment for oil prices globally. With OPEC talking no stance to support oil prices and the US shale oil production resuming at current levels, it seems that we are heading for lower price of oil in the short term, but whether this can become the new normal, I would think ”Not so fast..”The reality is that US shale oil producers need oil prices to remain at levels that won’t squeeze their own margins in order for their production to remain competitive, while at the same time, economies like that of Russia will be hardly hit of oil prices keep sliding for a prolonged period. The same holds for other OPEC members that will eventually put pressure on the Saudis to act in order to stabilize prices. So let’s just enjoy cheap oil for now, because this might not be a case of ”last man standing” between oil producers after all, but only case of just shuffling the deck”, Tzima concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
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- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Australian Coal Association
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
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