We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
 On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together producers and consumers to discuss the present energy market conditions. After the closing of the IEF conference, OPEC Ministers held informal talks in an effort to cut a deal that would either freeze or reduce oil supply in pursuit of more stabilized markets and elevated oil prices. The current output OPEC members is more than 33.2 million barrels a day and inventories will grow even higher if no action is taken. It has been argued that oil production needs to be reduced by 1 million barrels a day so that the market rebalances. Likewise, Algeria’s energy minister reasoned that “oil has sufficiently fluctuated on speculation that OPEC and Russia will agree to support oil prices in the midst of oversupply”.
The question that arises is if OPEC members can do the impossible, which for most seems like having a mountain to climb. As discussed, one of the reasons that oil prices are low is due to the oversupplied market with members having had no success in negotiating production cutbacks so far. Major producers, driven by Saudi Arabia have been pumping at near record levels over the last two years, trying to maintain their market share by squeezing out higher cost producers such as the U.S and Canada. Consequently, since 2014 oil prices have dropped by 60% and U.S. production has diminished. The income of nations such as Nigeria, Saudi Arabia and Russia depends on their exports and low prices have proven to be troublesome. Furthermore, consenting to production freeze at current levels may seem a fair compromise but not a promising solution. IEA forecasts that global oil surplus will last well into 2017 as demand grows at a slower pace than previously foreseen, particularly in Asia. Meanwhile, not only OPEC members output is at record levels but Russia is also producing close to its maximum capacity, while Libya and Nigeria indicate they want to raise their output for the rest of this year.
Moreover, Iran's full on return earlier this year further affected the market, as the country has been continuously increasing its oil output in an effort to once more claim its place as one of the world's top oil exporters. In any case, Saudi Arabia won’t wish for Iran to expand its production while the country itself is cutting back as that would mean handing over market share to its main regional competitor. It was recently reported that Saudi Arabia may agree to decrease production if only Iran acknowledges freezing its output level. Either way, once OPEC members come to an agreement they won’t want prices to go higher than $55-60 per barrel as they will risk helping higher cost competitors, such as shale oil producers, to get back in the game.
Inevitably, the equilibrium point is fragile for leading oil producers to achieve. On one side, a greedy stance to accomplish higher prices will give the leeway to higher cost producers to step in and on the other side a conservative attitude to defend their market share, flirts with the risk of operating at a loss. The global oil market has faced numerous difficulties, deriving essentially from excess supply. Oil-exporting countries and companies’ profits have deteriorated, increasing their budget deficits and crippling their economy. Additionally, those low prices inevitably lead to layoffs and reductions in new venture spending. But even with all these negative effects, the scenario in which the stagnation of oil major oil producers eventually leads to demand exceeding supply and leads to higher prices is a bit off. So IT IS really down to OPEC’s joined action despite many believing that the organization can’t do much these days.
By Katerina Restis
Tanker Chartering
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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
|
|
|
Showing 2296 to 2300 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- The University of Queensland
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- MS Steel International - UAE
- Xindia Steels Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Planning Commission, India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
|
| |
| |
|
