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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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Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
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- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
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