We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
 Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The current production cut schedule prior to OPECs meeting this past week, was supposed to last until March 2018, however it has come to light that it will now be extended until the end of 2018, in an attempt to prop up prices as many of OPEC’s members continue to feel strain from the low earnings generated by crude oil sales said Gerry Lathrop, Research Analyst at Allied shipping.
Gerry Lathrop further noted, what’s more is that Saudi Arabia, OPEC leading member, has to deal with ARAMCO’s planned IPO in 2018, which could greatly benefit from the higher crude oil prices. At the same time and in order for the Saudi Government to meet their government budget requirements and reduce their reliance on their cash reserves, are looking at a price target of around US$ 60 per barrel. This is contrary to Russia’s stance who would prefer oil prices to remain lower, and apparently would prefer a target of US$ 40 per barrel at the off chance that higher prices cause the US’s shale oil producers to head to the fields again. In addition to this, OPEC members Libya and Nigeria, who were previously exempt from production cuts, have now agreed to also cap production at their 2017 levels.
This of course can have a profound effect on the shipping side, where the mere talks of a production cut has oil traders rushing to their desks to close their next deal. In short, if oil prices start to show a trend of further price gains, oil traders and refiners will rush to book cargoes, so they can price their end products on competitive level and possibly benefit from a better profit margin, increasing demand in the crude market in the very short-term. In the long-term, if the price of oil also goes up, it is likely to dampen overall demand and cause a potential slowdown in trade. This negative effect however tends to be limited given that crude oil has fairly inelastic demand.
According to Gerry Lathrop of Allied, on the non-OPEC side of things, crude oil production in the US has hit a new record production level of 9.7 million barrels per day on average for the week ending November 17th, according to statistics from the US EIA. Similarly, crude oil imports from Venezuela to the Louisiana Offshore Oil Platform (LOOP) for the period of January to November 2017 are around 7 million barrels, which is almost 3 times as much as what we were seeing during the same time frame last year (2.5 million bbls). The main reason for importing so much Venezuelan crude seems to be mainly due to the lack of availability of Saudi Arabian heavy/sour crude resulting from their production cuts. According to US customs data, imports from Saudi are down 45% from 75 million barrels to 42 million barrels for the same 10-month period. This has undoubtedly caused much of the softening in the crude tanker market of late by removing many ton miles from the market.
In any case, it will be interesting to see which direction the market will trend come June of next year, as the tug of war continues between Russia’s stance on lower crude prices and Saudi’s preference for higher prices. We will probably see the price fall somewhere in between these respective price targets during most of 2018, while if prices increases above Saudi’s US$ 60 per barrel, a relatively swift ramp up in US shale oil production should help quickly push things back down. This points to the main risk by both OPEC and Russia, with any further cost efficiencies achieved by US shale producers allowing them to capture a higher market share and even make these production cuts irrelevant to the overall market.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
|
|
|
Showing 1 to 5 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
|
| |
| |
|
1 