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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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Wednesday, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
Tuesday, 20 February 18
INDIA: COAL IMPORT RISES BY 12 PER CENT TO 18 MILLION TONNES IN JANUARY - PTI
The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.
44 MT in the same month of the ...
Monday, 19 February 18
JOINT INSURANCE - WHY SHOULD YOU CARE? - SKULD
KNOWLEDGE TO ELEVATE
It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each othe ...
Friday, 16 February 18
U.S. WEEKLY COAL OUTPUT DOWN 4.5 PER CENT WEEK OVER WEEK, 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 ...
Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
Coal-based power plants are feeling the heat of spike in thermal grade coal prices and railway freight costs.
Prices of thermal grade coal sin ...
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Showing 1801 to 1805 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
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