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Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
 Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this publication, the former figure being the highest it has seen since December 2014.
According to Allied's Research Analyst Gerry Lathrop, this has been in part due to the weakened US dollar, a massive decrease in the total global crude storage, as well as the highest rate of OPEC conformity to their oil production cuts, which was announced this past week in the Joint Ministerial Monitoring Committee (JMMC), in Muscat, Oman. The committee is made up of OPEC and non-OPEC member states, and although its primary goal was not to discuss further production cuts, the question was on the table as to whether they would continue their plan through to 2019.
The answer to that is very much like a social media relationship status, “Its Complicated”. As previously mentioned, oil prices are hovering around a 3-year high, having increased by at least 10% since OPEC’s last meeting in Vienna this past November, and more than 50% from 6 months ago.
On the supply side, Gerry Lathrop said, the number of US oil rigs in 2017 and 2018 reached a new high, surpassing the number of rigs operating in 2016, and leading to a 16% rise in US oil production which peaked at around 9.75m b/d. The International Energy Agency on Friday raised its forecast for US production growth to 1.35m b/d for this year, making up by far the biggest chunk of supply growth outside of OPEC countries. The IEA then went on to say, US crude production is on course to overtake Saudi Arabia and rival Russia, as it made an upward revision on its 2018 growth forecast and stressed that “explosive” expansion in shale was offsetting OPEC-led supply cuts. The IEA, which is the latest body to raise US estimates, following the US energy department’s statistics arm and OPEC’s own research unit, has said: “This year promises to be a record-setting one for the US.”US growth of nearly 1.4m barrels a day, to a record 10.4m b/d, will help propel non-OPEC supply by 1.7m barrels a day in 2018 (Total output from outside the cartel is forecast to reach 59.8m b/d), dwarfing the level of supply cuts in OPEC crude output.
Gerry Lathrop further commented, but it's not all smooth sailing for people in the downstream oil market, the recent OPEC-led rally in crude prices is hitting refinery profits hard, flashing warning signs over oil’s Bull Run. Higher oil prices typically quench consumption and squeeze profit margins at refiners that convert the feedstock into products. Benchmark profit margins in key refining hubs dropped sharply in recent weeks - by over 50% in the U.S. Gulf Coast and northwest Europe, Reuter's data shows - increasing expectations that some refiners will reduce operating rates. However, a wave of refinery maintenance scheduled in spring could eventually put a downward pressure on crude itself. According to the IMF’s most recent upward revisions on its estimates for global economic growth, we are currently witnessing some of the strongest growth figures in years and these (relatively) low oil prices could well boost global oil consumption by a further 1.3m b/d this year, a number the IEA acknowledges is “conservative” compared with other forecasts. Others have predicted demand growth could approach 2m b/d this year, more than double the rate of 2011-2014. Given the above, 2018 could well prove to be the turning point in the tanker market that all of us have been hoping for or at least the spark that sets it in motion.
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Friday, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Afric ...
Friday, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
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- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
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