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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Tuesday, 20 February 18
INDIA: COAL IMPORT RISES BY 12 PER CENT TO 18 MILLION TONNES IN JANUARY - PTI
The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.
44 MT in the same month of the ...
Monday, 19 February 18
JOINT INSURANCE - WHY SHOULD YOU CARE? - SKULD
KNOWLEDGE TO ELEVATE
It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each othe ...
Friday, 16 February 18
U.S. WEEKLY COAL OUTPUT DOWN 4.5 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
Coal-based power plants are feeling the heat of spike in thermal grade coal prices and railway freight costs.
Prices of thermal grade coal sin ...
Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 o ...
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Showing 1801 to 1805 news of total 6871 |
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- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- VISA Power Limited - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- The University of Queensland
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
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