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Wednesday, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
 For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major factors affecting the commodity price as a whole.
Brent price closed yesterday at $62.90 down from 64.65 last week, which was the highest level reached since June 2015.
Efforts by OPEC and Russia to cut output by the on-going policy, which is already expected to extend throughout the first quarter of next year as well, have curbed excess supply in an effort to prop up the commodity price and seek and end to the global supply glut which has sent prices plummeting over the past two years.
OPEC has also continually revised its global demand outlook upward since July, noting an expected increase to 33.42m barrels next year. OPEC and other producers will meet again on the 30th of November in Vienna and are expected to agree to a further extension of production possibly for another 9 months up until the end of 2018.
The recent wave of arrests in Saudi Arabia has been touted as a corruption purge. However, seeing as this is also an empowering move for Mohammed bin Salman who has been an outspoken supporter of OPEC’s production cuts past 2018, it further increases the chance of these cuts being extended further.
However, these efforts are being undermined by a 12-month continual increase in US shale oil which has been triggered by the increased price. US Shale production is set to further increase in December by approx. 80,000 barrels, with the US rig number increasing quickly during the past months. Reports have been actually confirming another nine rigs added during the past days, which brings up the total number up to 738 rigs, an increase in excess of 60% compared to twelve months back.
While global stocks are falling for the first time since 2013, we won’t be surprised to see the increase in US and other supplies halting this decline within next year and together also halt the upward path the price of the commodity has followed in the past months.
One of the wild cards to keep an eye on is Venezuela which has been facing various issues in repaying its massive debts. Following a $1.1bn payment on state-oil company PDVSA’s issued bond last week, President Nicolas Maduro announced that this would be the final time it paid its creditors fully and that his intent is to seek a restructuring regarding future debt payments, which is putting Venezuela’s ability to pay its debts altogether into question.
Formally defaulting, could quite conceivably put further stress on the country’s oil output and therefore on the commodity price. Venezuela’s oil production has already been under considerable pressure in the past year, with October marking its lowest production in 28 years, at 1,863m barrels per day.
The aforementioned issues place oil prices in a tenuous, unstable situation. With caution regarding the rising US production, which could possibly result in a price correction, expectations for next year should perhaps be less bullish than what they currently are.
By Linos Kogevinas
Commercial Executive - Cotzias Intermodal Shipping
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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Tuesday, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
Saturday, 24 February 18
CHINA BECOMES WORLD'S SECOND LARGEST LNG IMPORTER, BEHIND JAPAN - EIA
China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS ...
Friday, 23 February 18
ESTIMATED U.S. WEEKLY COAL PRODUCTION UP 2.8 PER CENT W/E 17 FEB' 18 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tons ...
Thursday, 22 February 18
WHY THE COMMODITY RALLY WILL GET BACK ON TRACK - SIMON FLOWERS
Implications for the US dollar and producers
Are we in the early stages of a sustained rise in commodity prices? And what does it mean for the ...
Thursday, 22 February 18
PANAMAX: IT HAS BEEN A SLOW AND UNEVENTFUL WEEK - FEARNLEYS
Supramax
Slight improvement from Atlantic with more hope for upcoming weeks. More grain cargoes from Black Sea made fhaul rates better again $17- ...
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Showing 1796 to 1800 news of total 6871 |
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- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
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