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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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Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 o ...
Wednesday, 14 February 18
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
The second month of the year is traditionally a particularly interesting one for the shipping industry as a whole and even more importantly for the ...
Monday, 12 February 18
PANAMAX: WITH LIMITED FRESH ENQUIRY IN ALL AREAS, SPOT MARKET RATES DRIFTED LOWER THROUGHOUT THE WEEK - BALTIC BRIEFING
Capesize
A switch to the Atlantic with rates firming as charterers seemed keen to fix and tonnage was tight, prompting a recovery in rates. Trans ...
Monday, 12 February 18
WORLDWIDE: 'DEMURRAGE CLAIMS' FOR THE PURPOSES OF DOCUMENTARY TIME BARS
KNOWLEDGE TO ELEVATE
On 2 February 2018 the Commercial Court allowed an appeal from a decision of the Arbitration Tribunal in Lukoil Asia Paci ...
Saturday, 10 February 18
COAL INDIA ON PATH OF SUSTAINABLE PRODUCTION GROWTH AND SUPPLY TO POWER AND NON POWER SECTOR - PIB
Supply of 371.8 MT of Coal to Power Sector and 103.1 MT Coal to Non-Power Sector Achieved in 2017-18 Till January,2018 Average Rake Loading To The ...
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Showing 1806 to 1810 news of total 6871 |
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- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
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