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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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Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
Wednesday, 15 October 14
SHIPOWNER NOT LIABLE FOR CARGO DAMAGE RESULTING FROM POOR STOWAGE - CLYDE & CO
KNOWLEDGE TO ELEVATE
Russian metal trading company Yuzhny Zavod Metall Profil (YZMP), the holder of a CONGEN 1994 bill of lading, took delivery o ...
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Showing 3426 to 3430 news of total 6871 |
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- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
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