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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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Monday, 15 January 18
QUEENSLAND SHIPPED 210.8 MT OF COAL IN 2017, DOWN 5% YOY QUEENSLAND RESOURCES COUNCIL
Queensland's coal exports over the 12 months reached 210.8 mt which is down 10 mt or 5 per cent from the previous year’s record of 220.8 ...
Thursday, 11 January 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS FIXING AT AROUND $10K - FEARNLEYS
Supramax
USG rates improved both for backhaul and fronthaul, Ultras from USG to Japan receiving around $26k daily while supras 1-2k less for same ...
Wednesday, 10 January 18
2018: IT IS PROJECTED, THE SHIPBUILDERS WILL DELIVER FOUR HUNDRED FORTY NEW VESSELS IN 2018
Headlines from IMF's 2017 – World Economic Outlook:
January 2017 - “After a lacklustre outturn in 2016, economic activity is p ...
Tuesday, 09 January 18
INDONESIAN GOVERNMENT DECLARED COAL REFERENCE PRICE UP IN JANUARY
COALspot.com: the Indonesian Coal Price Reference ( HBA) rose 1.60 per cent in January 2018, the latest ministerial decree showed.
The benchma ...
Friday, 05 January 18
U.S. WEEKLY COAL OUTPUT FELL 32.4% PER CENT WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 10.5 million short tons ...
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Showing 1831 to 1835 news of total 6871 |
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- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
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