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Wednesday, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
 It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its production target (30 million bpd) unchanged signaling a conscious choice to preserve existing market share over oil price. This was a decision that will surely be remembered in the history of oil and has left us all witness to the plummet the barrel price took following this policy and the embrace of market forces.
Oil prices have dropped substantially and have seemingly found some form of stability during the past week. The supply of Crude averaged 30,38m bpd during January, marking a slight increase compared to December. Only the future will determine whether this decision was a sound strategy which could allow OPEC a larger stake of the market when and if oil prices surge upward (if indeed OPEC commits to this policy for the long term).
With everyone feeling the policy effects and with barrel prices averaging between 45-55$, the question on everyone’s minds is whether we have finally reached the bottom or if the freefall will continue. According to the Secretary-General of OPEC, Abdulla al-Badri, the former might be the case. He affirms that we have indeed reached the bottom and anticipates that oil prices will move in a more correctional fashion as the market stabilizes. A bold comment, surely, but not one without merit. It is worth noting that the Secretary-General did not offer any hints towards future OPEC policy changes or more specifically towards the reduction of their production target.
On the other hand T. Boone Pickens has, since early December, declared his certainty that we will return to 100$ levels in the next 12 to 18 months. This prediction however, is firmly linked to the belief that OPEC will not be able to hold their production ceiling for very long and will be forced to revise it accordingly.
Opinions on the question of whether oil price will return to triple digit levels are exceedingly varied. While there is surely evidence to support both claims, it seems to stand to reason that, with OPEC being by and large the most important player in the oil market, any significant increase in oil prices will depend on at least a partial revision of OPEC’s policies. In truth, it seems doubtful that OPEC will be able to maintain the current policies amidst raging market pressure.
There are of course numerous factors directly or indirectly affecting future oil prices. This makes any attempt at a clear prediction troublesome. With current industry investments rapidly leading the industry to a state of underinvestment, production could very well be affected negatively in the medium to long term future.
The instability of the past two months has had a great effect on economies on a global level. Industries left and right have been directly affected by the resulting frenzied conditions. Shipping, being so closely connected to the oil market, has already been affected significantly. However, the future of oil and the effect of its price and supply on the shipping industry is unclear and we will have to keep an eye on a variety of factors in order to be better hedged against adverse market developments.
By Linos Kogevinas
Marketing - Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
Tuesday, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
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Showing 3191 to 3195 news of total 6871 |
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- Xindia Steels Limited - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Australian Coal Association
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
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