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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, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
Wednesday, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
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Showing 1851 to 1855 news of total 6871 |
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- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- The University of Queensland
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
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