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