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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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Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
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Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- India Bulls Power Limited - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
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