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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, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
Friday, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
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Showing 1881 to 1885 news of total 6871 |
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- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
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