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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, 16 November 17
THE PORT OF NEWCASTLE HAS SHIPPED 14.94 PERCENT LESS COAL IN OCTOBER 2017, DATA SHOWS
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,466.8 ...
Thursday, 16 November 17
GOVERNMENT, 13 COAL MINERS AGREE TO CHANGE CONTRACTS - JP
The government and 13 coal mining companies have agreed to change the old Contract of Work (CoW), as part of the implementation of Law No. 4/20199 ...
Wednesday, 15 November 17
IEA RECOGNISES COAL'S CONTINUOUS IMPORTANCE TO GLOBAL ENERGY NEEDS - WCA
The World Coal Association (WCA) has welcomed the International Energy Agency’s (IEA) recognition that coal will continue to play a vital rol ...
Wednesday, 15 November 17
THERMAL COAL WAS DRAGGED DOWN BY THE WEAKNESS ACROSS THE WIDER ENERGY SECTOR - DANIEL HYNES
The coal market was mixed.
Thermal coal was dragged down by the weakness across the wider energy sector, said Daniel Hynes Senior Commodi ...
Wednesday, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major facto ...
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Showing 1876 to 1880 news of total 6871 |
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- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
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