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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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Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
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Showing 1856 to 1860 news of total 6871 |
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- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
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