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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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Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
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Showing 1826 to 1830 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Economic Council, Georgia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Videocon Industries ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- White Energy Company Limited
- GMR Energy Limited - India
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