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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.
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Saturday, 10 February 18
OIL PRICE USD 100/BARREL BY END OF 2018! - SAROJ MOHAPATRA
All demand supplies calculations are going wrong in oil market at present. US production is increasing at a good pace and set to topple Saudi comfo ...
Friday, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
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Showing 1811 to 1815 news of total 6871 |
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- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- The University of Queensland
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
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