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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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Tuesday, 21 October 14
INDIA'S DIESEL DEREGULATION POSITIVE FOR OIL COMPANIES - FITCH
The Indian government's 18 October decision to deregulate diesel prices will have a positive effect on the national oil marketing companies tha ...
Tuesday, 21 October 14
LOW DEMAND PUTTING COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost on day, week and month.
The swap has lost US$ 1.57 (-3.04%) month on month ...
Monday, 20 October 14
CHINA'S ENVIRONMENTAL POLICIES DO NOT SPELL THE END FOR COAL - WOOD MACKENZIE
China's environmental policies do not spell the end for coal Analysis across energy commodities show coal still accounting for 64% of power mix ...
Monday, 20 October 14
CFR SOUTH CHINA COAL SWAPS FAILED TO PERFORM POSITIVE
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 3.04 (-4.57%) month over month and US$ 1.75 (-2.68%) week o ...
Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
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- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
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