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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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Monday, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Planning Commission, India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
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