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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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Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
...
Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- White Energy Company Limited
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
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