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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, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
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- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
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