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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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Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
Thursday, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
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Showing 1836 to 1840 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- PTC India Limited - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
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