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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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Saturday, 10 February 18
OIL PRICE USD 100/BARREL BY END OF 2018! - SAROJ MOHAPATRA
All demand supplies calculations are going wrong in oil market at present. US production is increasing at a good pace and set to topple Saudi comfo ...
Friday, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
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Showing 1811 to 1815 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- The University of Queensland
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- MS Steel International - UAE
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
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