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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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Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
Tuesday, 04 November 14
INDONESIAN COAL SWAPS FOR 2015 DELIVERIES SHOW A WEAK TREND
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week, the trend was same as las ...
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- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
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