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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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Thursday, 16 November 17
KOMIPO INVITED BIDS FOR 3.9 MILLION TONS OF 5700 NAR AND 5400 NAR COAL FOR 2018 - 2020 DELIVERY
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 3,900,000 Metric Tons of min. 570 ...
Thursday, 16 November 17
THE PORT OF NEWCASTLE HAS SHIPPED 14.94 PERCENT LESS COAL IN OCTOBER 2017, DATA SHOWS
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,466.8 ...
Thursday, 16 November 17
GOVERNMENT, 13 COAL MINERS AGREE TO CHANGE CONTRACTS - JP
The government and 13 coal mining companies have agreed to change the old Contract of Work (CoW), as part of the implementation of Law No. 4/20199 ...
Wednesday, 15 November 17
IEA RECOGNISES COAL'S CONTINUOUS IMPORTANCE TO GLOBAL ENERGY NEEDS - WCA
The World Coal Association (WCA) has welcomed the International Energy Agency’s (IEA) recognition that coal will continue to play a vital rol ...
Wednesday, 15 November 17
THERMAL COAL WAS DRAGGED DOWN BY THE WEAKNESS ACROSS THE WIDER ENERGY SECTOR - DANIEL HYNES
The coal market was mixed.
Thermal coal was dragged down by the weakness across the wider energy sector, said Daniel Hynes Senior Commodi ...
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Showing 1876 to 1880 news of total 6871 |
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- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Minerals Council of Australia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
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