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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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- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Central Electricity Authority - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- PTC India Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
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