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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, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1851 to 1855 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
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