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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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Thursday, 12 October 17
THERMAL COAL PRICES IN EUROPE AND ASIA PUSHING HIGHER - DANIEL HYNES
Coal markets took the lead from the oil market, with thermal coal prices in Europe and Asia pushing higher says Daniel Hynes,Senior Commodity Strat ...
Wednesday, 11 October 17
2020 DEBATE AT IBIA'S LISW EVENT: COMPLIANCE & ENFORCEMENT – IT'S COMPLICATED : IBIA
There is no doubt about the start date for the 0.50% marine fuel sulphur limit in MARPOL Annex VI, but questions remain around how it will be enfor ...
Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over a ...
Tuesday, 10 October 17
DELIVERY OF CARGO WITHOUT ORIGINAL BILLS OF LADING - UK P&I CLUB
KNOWLEDGE TO ELEVATE
- It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-produ ...
Monday, 09 October 17
INDONESIAN COAL PRICE REFERENCE HITS NEW HIGH FOR 2017
COALspot.com: Indonesian coal benchmark price surges 2.13% in October month over month, the latest ministerial decree showed.
The benchmark pr ...
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Showing 1916 to 1920 news of total 6871 |
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- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
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