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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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Friday, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
Wednesday, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
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Showing 1901 to 1905 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
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