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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, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
Wednesday, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
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Showing 1846 to 1850 news of total 6871 |
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- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
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