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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, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
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Showing 1936 to 1940 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
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