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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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Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
Thursday, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
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Showing 1846 to 1850 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
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