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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, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
Wednesday, 29 November 17
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
In line with most expectations for the end of this month, during the past days the Dry Bulk market realized a significant rebound that sent the BDI ...
Tuesday, 28 November 17
THE DRY BULK MARKET HAS SHOWN A REMARKABLE RECOVERY THIS YEAR - GEORGE LAZARIDIS
The Dry Bulk market has shown a remarkable recovery this year with the average earnings having increased by around 63% this year so far compared to ...
Friday, 24 November 17
U.S. PRODUCED 14.9 MMST FOR THE WEEK ENDING NOV 18; UP 0.9% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 23 November 17
PANAMAX: ANOTHER SLOW AND UNEVENTFUL WEEK; DECREASING FREIGHT RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
A quiet start to the week. USG closed last week a bit tighter, and continued into the new week on a positive tone with little concluded, ...
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Showing 1866 to 1870 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Baramulti Group, Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
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