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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- The University of Queensland
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
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