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Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well as newly established oil tanker routes, which came as a result of the booming US oil production. In its latest monthly outlook, shipbroker Intermodal, noted that the continuously softening price of oil has been monopolizing head-lines for a while now, a very short period of less than five months, the price of the commodity has been slashed. The benchmark price of Brent has moved from $110 per barrel in the beggining of July $80 per barrel a couple of days ago, a sharp decline of more than 27% and a level last visited in September 2010.
In its analysis, Eva Tzima, Intermodal’s Research Analyst said that “the price of the loyal servant of energy which has been steadily climbing post the end of the Lehman market shock, has been a key driver of developments across the globe. Amidst a high priced oil environment other energy sources have started to steadily gain popularity and eventually a bigger share in the energy market. So what has pushed the price of oil down and most importantly how sustainable this new environment might be? The US shale oil revolution has come at a time when global growth prospects are ailing and the role of central banks remains vital in safeguarding the journey to economic recovery.As shale oil production started to account for a big share in the US market through, the US has significantly reduced its imports from OPEC countries exerting significant pressure especially on South American and West African oil exports. As expected, the increasing US output that reached its highest level in almost 30 years, has added to the global oil supply glut that was already being built up by the growth slowdown of economies in the likes of China and Europe and their consequent lesser demand for oil”, she said.
According to Tzima, “as excess supply started putting pressure on the price of oil lately, most were expecting OPEC producers to start curbing their supply in an effort to support prices. Instead, in the beggining of last month, Saudi Aramco, Saudi Arabia’s state-run producer and the world;s dominant exporter, didn’t meddle with its exports volume at all but moved ahead with cutting prices for all exports. Such decision is logically identified by most analysts as an effort by the Saudis to defend their global market share no matter what the cost is at this stage and it seems that so far this working. Asian oil demand has already increased, with Far East importing countries being lured back to higher import levels, helping crude carriers benefit not only from lower bunker prices but also from increase Eastbound demand. Most notably, and despite the fact that oil demand in China has been weakening throughout the year, the country’s import have started picking up significantly since mid-summer, roughly around the same time that oil prices started to slide. China started taking advantage of the current low price environment by quickly accelerating its imports in the 3-month period of July-September with the purpose to reinforce its strategic reserves”.
Intermodal’s analysts added that “at the same time, talks of US oil export ban being lifted seems to be warming up again. The incoming head of the Senate Energy Committee, Republican Senator Lisa Murkowski, who has been a big supporter of relaxing the ban, will be able to continue doing so in a more favorable environment following the recent win of Republicans in the control of the Senate. Although nobody believes that the 40-year ban could be easily relaxed, Senator Murkowski’s rising to this position comes at a timing that could only add pressure on overall sentiment for oil prices globally. With OPEC talking no stance to support oil prices and the US shale oil production resuming at current levels, it seems that we are heading for lower price of oil in the short term, but whether this can become the new normal, I would think ”Not so fast..”The reality is that US shale oil producers need oil prices to remain at levels that won’t squeeze their own margins in order for their production to remain competitive, while at the same time, economies like that of Russia will be hardly hit of oil prices keep sliding for a prolonged period. The same holds for other OPEC members that will eventually put pressure on the Saudis to act in order to stabilize prices. So let’s just enjoy cheap oil for now, because this might not be a case of ”last man standing” between oil producers after all, but only case of just shuffling the deck”, Tzima concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide
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Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
Tuesday, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
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- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
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