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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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Friday, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
Wednesday, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
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Showing 1901 to 1905 news of total 6871 |
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- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
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