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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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Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
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- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
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