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