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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, 22 November 17
THERMAL COAL WAS FLAT AMID CONCERNS OF FURTHER GOVERNMENT INTERVENTION IN CHINA, SAYS DANIEL HYNES
Coal prices were mixed. Thermal coal was flat amid concerns of further government intervention in China, said Daniel Hynes Senior Commodity Strateg ...
Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
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Showing 1871 to 1875 news of total 6871 |
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- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
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