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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, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
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Showing 1836 to 1840 news of total 6871 |
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- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Australian Coal Association
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Planning Commission, India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
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