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Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
 Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared with previous years. Oversupply and growing economic headwinds are weighing down heavily on oil worldwide. According to the U.S. Energy Information Administration (EIA), Brent crude oil prices are forecast to average $35/b in summer 2016, $21/b lower than last summer. The monthly average spot price of Brent crude oil increased by $2/b in June to $48/b, which was actually the highest monthly average for Brent since October 2015. This was the fifth consecutive increase in the monthly average Brent price, the longest such stretch since May through September 2013.
In the U.S., commercial crude oil weekly inventories have increased by more than 71 million barrels (15%) since the end of September 2015, pushing crude oil storage capacity utilization to a near record high according to EIA. The large increase in crude oil storage capacity in the States between September 2015 and March 2016 was prompted by increased demand for crude oil storage as global supply has outpaced global demand for most of the past two years.
In S.E. Asia, predominantly Singapore and Malaysia, the volumes of oil stored at sea also appear to have increased significantly. There is still a large fleet of VLCCs off Singapore anchored in nearby areas for storage use. There is a major concern that there is still a considerable quantity of physical crude oil stored in the area especially during the last few months.
This is actually the fourth time during the last three decades, that we have a major crash in oil prices. OPEC countries today, refuse to actually cut back or agree to limit production in order to boost prices. In the past, that tactic was a good solution but today OPEC is facing its own challenges. For Saudi Arabia and the remaining Gulf Cooperation Council (GCC) countries (Bahrain, Kuwait, Oman, Qatar and United Arab Emirates), which together account for around 40% of the world's oil reserves and the lion's share of OPEC's collective output, their future oil strategy should be an exclusively GCC affair, away from the stress and dysfunction of OPEC. We see huge developments and the continued existence of OPEC being in peril.
The conflict within the OPEC group over a coordinated cut in output has led to intense international pressure on Saudi Arabia. The meeting of oil producers in Doha in April basically led to more claims of Saudi Arabia’s intolerance, despite the fact that Saudi Arabia has the largest excess oil capacity in the world by an enormous degree.
We have, in fact, passed the point where OPEC's key member Saudi Arabia can any longer dictate oil prices. Saudi Arabia might have hinged on the respect it received from OPEC members, which gave it control over OPEC outputs and de-facto control of 40% of world oil output, way more than its share.
That status quo guaranteed a steady oil supply which, in turn, fueled economic exchanges and progress during the last half-century with an unprecedented increase in prosperity worldwide. We are now transitioning to a time where open trading on world markets has more impact on oil prices than the attempts of OPEC to establish artificial restricted supply.
By Christopher Whitty
Commercial 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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
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Showing 2316 to 2320 news of total 6871 |
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- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- PTC India Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
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