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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, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
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Showing 1816 to 1820 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
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