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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, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
Friday, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
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Showing 1911 to 1915 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
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