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Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
 Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow any further price increases.
We assume Brent and WTI will average USD42 a barrel in 2016, up from our USD35/bbl base case in February. The increase follows evidence that the market will come into balance in the second half of 2016, which has already been reflected in a year-to-date average price of USD41/40 for Brent/WTI.
However, we do not believe that the rapid price recovery seen in the first half of 2016 will continue. The sub-USD30 prices at the start of the year approached cash costs for many producers and were unsustainable in all but the very short term. Prices in the USD40-USD50 range allow most producers to break even on a cash basis, if not to cover sunk costs.
We believe that record high inventories - OECD stocks are still more than 10% higher than normal - and market expectations that US shale production will begin to rebound at prices above USD50, will keep prices below that level until a supply deficit has eroded some of the inventory overhang.
We have therefore left our 2017 and 2018 price assumptions unchanged at USD45 and USD55 respectively. Our long-term expectations for both Brent and WTI are unchanged at USD65, reflecting our view on the long-run marginal cost of supply.
Our natural gas expectations have also changed, with price assumptions for US Henry Hub rising and UK National Balancing Point (NBP) falling. In the US, the market has begun to work through the excess inventory build-up associated with last year's El Nino winter. Slower production growth in key shale plays has also helped. For NBP, increased US gas exports have contributed to a medium-term LNG glut, which we expect to put pressure on international spot prices.
Our Henry Hub price assumptions are USD2.35/mcf in 2016, rising to USD2.75 in 2017, USD3.00 in 2018 and USD3.25 in the long term. For NBP we assume a price of USD5.00/mcf for 2016, USD5.50 in 2017, USD6.00 in 2018 and USD6.50 in the long term.
Source: Fitch Ratings
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Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Aditya Birla Group - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- The University of Queensland
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
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