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