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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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Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
Tuesday, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
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Showing 1861 to 1865 news of total 6871 |
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- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- White Energy Company Limited
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
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