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