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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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Tuesday, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
Wednesday, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
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Showing 1861 to 1865 news of total 6871 |
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- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
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