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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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Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
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- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
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