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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, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Tuesday, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
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Showing 1906 to 1910 news of total 6871 |
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- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
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