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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- The University of Queensland
- MS Steel International - UAE
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
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