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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, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
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Showing 1816 to 1820 news of total 6871 |
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- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
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