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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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Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
Thursday, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
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Showing 1846 to 1850 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
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