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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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Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
Friday, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
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Showing 1841 to 1845 news of total 6871 |
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- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Planning Commission, India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
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