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.
|
|
Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 o ...
Wednesday, 14 February 18
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
The second month of the year is traditionally a particularly interesting one for the shipping industry as a whole and even more importantly for the ...
Monday, 12 February 18
PANAMAX: WITH LIMITED FRESH ENQUIRY IN ALL AREAS, SPOT MARKET RATES DRIFTED LOWER THROUGHOUT THE WEEK - BALTIC BRIEFING
Capesize
A switch to the Atlantic with rates firming as charterers seemed keen to fix and tonnage was tight, prompting a recovery in rates. Trans ...
Monday, 12 February 18
WORLDWIDE: 'DEMURRAGE CLAIMS' FOR THE PURPOSES OF DOCUMENTARY TIME BARS
KNOWLEDGE TO ELEVATE
On 2 February 2018 the Commercial Court allowed an appeal from a decision of the Arbitration Tribunal in Lukoil Asia Paci ...
Saturday, 10 February 18
COAL INDIA ON PATH OF SUSTAINABLE PRODUCTION GROWTH AND SUPPLY TO POWER AND NON POWER SECTOR - PIB
Supply of 371.8 MT of Coal to Power Sector and 103.1 MT Coal to Non-Power Sector Achieved in 2017-18 Till January,2018 Average Rake Loading To The ...
|
|
|
Showing 1806 to 1810 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
|
| |
| |
|
