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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, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
Tuesday, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
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$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
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- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
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- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
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- Planning Commission, India
- Parry Sugars Refinery, India
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- Mjunction Services Limited - India
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- Medco Energi Mining Internasional
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- TeaM Sual Corporation - Philippines
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- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
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- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
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