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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, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
Tuesday, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
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Showing 1886 to 1890 news of total 6871 |
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- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Minerals Council of Australia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- MS Steel International - UAE
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- VISA Power Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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