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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, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
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Showing 1841 to 1845 news of total 6871 |
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Bhatia International Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
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