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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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Tuesday, 09 December 14
API 8 CFR SOUTH CHINA COAL SWAPS FELL 1.8% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.84 (-2.91%) month over month and US$ 0.95 (-1.52%) we ...
Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
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- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Australian Coal Association
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
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