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