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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, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
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Showing 1856 to 1860 news of total 6871 |
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- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Aditya Birla Group - India
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