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