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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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Thursday, 28 January 16
RICHARDS BAY COAL SWAPS FOR Q1,Q2 AND Q3 DELIVERIES FIRM THIS PAST WEEK
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap rose month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coa ...
Wednesday, 27 January 16
API 5 FOB NEWCASTLE COAL SWAPS CLOSE MIXED
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.17 per ton (3.13%) this past week compared to the sam ...
Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in ...
Wednesday, 27 January 16
WORLD HARD COAL PRODUCTION AND CONSUMPTION DECLINE IN 2015 FOR THE FIRST TIME IN OVER A DECADE - VDKI
COALspot.com: Seaborne hard coal trade and the changes in this area were decisively affected by China and India - VDKi.
China bears the g ...
Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
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Showing 2586 to 2590 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
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