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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, 26 September 17
REDUCING THE RISK OF LIQUEFACTION - IUMI
KNOWLEDGE TO ELEVATE
Liquefaction is a phenomenon that can take place in granular materials, such as soil or fine ore, where the beh ...
Tuesday, 26 September 17
THE CURRENT HIGHS IN THE DRY BULK FREIGHT MARKET WILL SURELY BE SURPASSED AND BY A CONSIDERABLE MARGIN IN THE NEXT YEAR OR SO - GEORGE LAZARIDIS
The Dry Bulk market con!nues to show a strong face amidst the favorable tail winds being seen, which have helped the Bal!c Dry Index inch above the ...
Monday, 25 September 17
CHOICES FOR SHIPPING AS 2020 APPROACHES? - CLARKSONS
Historically, the fuel of choice for the vast majority of large cargo ships has been heavy fuel oil. But in 2020, sulphur oxide emissions will be c ...
Monday, 25 September 17
THE FREIGHT MARKET ROSE IN ALL SEGMENTS EXCEPT PANAMAX WEEK OVER WEEK
COALspot.com: The freight market rose in all segments except Panamax week over week. Mainly Cape has supported to boosted up BDI this past week, BD ...
Monday, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
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Showing 1931 to 1935 news of total 6871 |
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- Economic Council, Georgia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
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