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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, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
Thursday, 28 September 17
CHINESE GOVERNMENT TO CANCEL DOMESTIC IRON ORE MINING RIGHTS - JEFFREY LANDSBERG
It has been reported that China will cancel roughly one third of its iron ore mining licenses, says Commodore Research & Consultancy in its lat ...
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Showing 1926 to 1930 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
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