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Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
 Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen more than 70% since the middle of 2014. Oil supply outpaces demand on any given day, and billions of barrels of oil are being stored rather than consumed. As a result, oil prices have collapsed to as low as $26 per barrel in February, from well over $100 in 2014.
It is interesting that currently, Iran and Iraq both play an important role in the contemplated production freeze. Iran has already been increasing production and the country’s position is that it would consider oil-production caps only after the country’s output rises back to the levels before the West imposed sanctions over its nuclear program.
Basically Iran wants to increase production now, in an attempt to revive their share in the global markets, before they even consider discussing about participating in an output freeze. Iraq also has a longstanding policy of seeking to raise production regardless of the price-stabilizing policies of the OPEC.
Russia said that OPEC’s meeting with other key oil producers regarding an output freeze will probably be held in Doha, Qatar in April. They said that Iran supports the plan, while Tehran says it wants to double its crude exports to 4 million bpd first.
However, in reality according to the latest oil market data, both Russia and Saudi Arabia ramped up their oil production in February, despite talks about supply caps. Russian oil supply reached a new high of 11.08 million barrels a day in February, and Saudi Arabia during the same month increased its daily output by 14,000 barrels, to 10.14 million barrels per day, according to OPEC's analysis of market sources.
Generally speaking, countries are less willing to freeze and especially to cut production, because doing so means giving up market share for their oil, which might be hard to win back especially during this transition period. The four major oil powers, Saudi Arabia, Russia, Venezuela and Qatar, are heavily involved in the various discussions and the coordinated efforts will probably include soon also non OPEC countries such as Oman, Kazakhstan and Azerbaijan.
Assuming all are on board, the oil glut could begin to ease, particularly with American output on the decline. Or at least that is what they anticipate with this concept.
The fact is that a two million barrel-per-day surplus in oil supplies will continue to weigh on prices in the short term and even if these countries freeze output, they would still need more drastic efforts to support prices in the long term.
From my own perspective, it looks like their ultimate goal is to reach a certain consensus and, if they actually get there, I would expect them to quickly focus on actually reducing production in the long term. In any case, analysts estimate that maintaining production at current levels will probably not have a significant effect on prices.
Christopher Thomas Whitty
Marketing Manager - 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, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
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- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
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