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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- The University of Queensland
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- White Energy Company Limited
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- VISA Power Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Planning Commission, India
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
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