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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, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
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Showing 1891 to 1895 news of total 6871 |
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- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Australian Coal Association
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
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