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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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Monday, 11 September 17
A PUNCHY WEEK FOR THE BIG SHIPS AS THE RATE FOR WEST AUSTRALIA TO CHINA HIT $8.00 THE FIRST TIME IN NEARLY THREE YEARS - BALTIC EXCHANGE
Capesize
A punchy week for the big ships as the rate for West Australia/China hit $8.00 the first time in nearly three years. A Jiangsu Steamship ...
Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian th ...
Monday, 11 September 17
KOMIPO INVITED BIDS FOR TOTAL 6.235 MMT OF 5700 AND 5100 NAR COAL FOR 2017 TO 2022 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,590,000 Metric Tons of Bitumino ...
Monday, 11 September 17
THE FREIGHT MARKET ROSE WEEK OVER WEEK; BCI UP 22.22% & BPI UP 14.77%
COALspot.com: The freight market rose in all segments week over week. Mainly Cape and Panamax have supported to pushed up BDI this past week, BDI, ...
Friday, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
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Showing 1946 to 1950 news of total 6871 |
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- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
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