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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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Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
Tuesday, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
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Showing 1896 to 1900 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
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