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