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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, 14 September 17
KOMIPO INVITED BIDS FOR 5700 NAR BITUMINOUS COAL FOR BORYEONG POWER PLANT; 390K MT FOR NOV LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 390,000 Metric Tons of Bituminous coal ...
Wednesday, 13 September 17
U.S. COAL EXPORTS FOR THE FIRST SIX MONTHS OF 2017 WERE 55% HIGHER COMPARED TO THE SAME PERIOD IN 2016 - EIA
COALspot.com: EIA expects the share of U.S. total utility-scale electricity generation from natural gas to fall from an average of 34% in 2016 to a ...
Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about ...
Tuesday, 12 September 17
NEWCASTLE FOB PRICES ROSE STRONGLY AND ARE NOW THREATENING TO BREAK THROUGH US$100/T - DANIEL HYNES
COALspot.com: The rise in crude oil market supported further gains in thermal coal, says Daniel Hynes Senior Commodity Strategist at ANZ.
Acco ...
Tuesday, 12 September 17
KOMIPO TO IMPORT 2.5 MILLION TONS OF 5700 NAR COAL FOR 5 YEARS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 500,000 Metric Tons of Bituminous ...
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Showing 1941 to 1945 news of total 6871 |
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- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Australian Coal Association
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
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