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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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Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
Thursday, 16 November 17
KOMIPO INVITED BIDS FOR 3.9 MILLION TONS OF 5700 NAR AND 5400 NAR COAL FOR 2018 - 2020 DELIVERY
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 3,900,000 Metric Tons of min. 570 ...
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Showing 1871 to 1875 news of total 6871 |
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- Ministry of Transport, Egypt
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- PTC India Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
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