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Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
 US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the International Energy Agency, the US will overtake Russia as the world’s #1 crude oil producer by next year, having surpassed 10m bpd in late 2017 and slated to surpass 11m bpd by the end of 2018.
Over the past two years US shale oil companies have managed to become more efficient, optimizing production processes and utilizing new technologies and practices at lower costs. This is attributed in part to technological breakthroughs on the drilling side; Break-even points for US production have been driven substantially downward. It remains to be seen if this increase will be sustainable but at this point most pundits do not see production peaking before 2020.
The booming production has of course unnerved other producers and oil markets globally and comes at a time when other producers have voluntarily capped their own production in order to prop up prices. During 2017, we witnessed the spike in prices due to OPEC production cuts with prices steadily correcting upwards since November 2016. Oil is currently trading in the low $60s, after peaking at a 3-year high of ~$66pb.
OPEC and its allied producers are seeing their market shares eroded by the increasing US production. At the same time, US oil imports are also dropping, further shrinking profits from OPEC established markets. With this in mind, it will be very interesting to see how the commodity price will fare under these new conditions.
US shale production will be extremely important to watch over the next 5 years. It is almost certain that production will continue to grow in the next years. However, a number of factors will determine if this growth will be sustainable long term and how the market will balance itself under a future -potentially different- status quo.
On the tanker side a growing US production is good news as exports from the country could be offering more and more support to rates in the future as apart from Europe and Latin America, the long haul trips to the Far East and particularly to China is gaining increasing momentum. Thomson Reuters data reveals that US shipments specifically to China that were non-existent prior to 2016 have now reached a new record of around 2.01 million metric tonnes or 474,450 barrels/day during last month. Sinopec, the biggest oil refiner in China, expects to import 10 million metric tonnes of crude oil from the US during 2018. As the production cap from OPEC and Russia continues, the fairly new and quickly increasing flow of the commodity from the US to S. Korea, Japan and China is definitely something to watch out for.
Additionally as a growing US production will almost certainly keep undermining OPECs efforts to boost oil prices, this means that the price of the commodity will keep moving – at least for the short to medium term- within a specific range that is still considered attractive for consuming countries maybe not compared to early 2016 levels but certainly when compared to mid-2014 levels of around $ 100/barrel.
By Linos Kogevinas
Commercial Executive - Cotzias Intermodal Shipping
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Saturday, 24 February 18
CHINA BECOMES WORLD'S SECOND LARGEST LNG IMPORTER, BEHIND JAPAN - EIA
China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS ...
Friday, 23 February 18
ESTIMATED U.S. WEEKLY COAL PRODUCTION UP 2.8 PER CENT W/E 17 FEB' 18 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tons ...
Thursday, 22 February 18
WHY THE COMMODITY RALLY WILL GET BACK ON TRACK - SIMON FLOWERS
Implications for the US dollar and producers
Are we in the early stages of a sustained rise in commodity prices? And what does it mean for the ...
Thursday, 22 February 18
PANAMAX: IT HAS BEEN A SLOW AND UNEVENTFUL WEEK - FEARNLEYS
Supramax
Slight improvement from Atlantic with more hope for upcoming weeks. More grain cargoes from Black Sea made fhaul rates better again $17- ...
Wednesday, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
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Showing 1796 to 1800 news of total 6871 |
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- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
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