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Wednesday, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
 It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its production target (30 million bpd) unchanged signaling a conscious choice to preserve existing market share over oil price. This was a decision that will surely be remembered in the history of oil and has left us all witness to the plummet the barrel price took following this policy and the embrace of market forces.
Oil prices have dropped substantially and have seemingly found some form of stability during the past week. The supply of Crude averaged 30,38m bpd during January, marking a slight increase compared to December. Only the future will determine whether this decision was a sound strategy which could allow OPEC a larger stake of the market when and if oil prices surge upward (if indeed OPEC commits to this policy for the long term).
With everyone feeling the policy effects and with barrel prices averaging between 45-55$, the question on everyone’s minds is whether we have finally reached the bottom or if the freefall will continue. According to the Secretary-General of OPEC, Abdulla al-Badri, the former might be the case. He affirms that we have indeed reached the bottom and anticipates that oil prices will move in a more correctional fashion as the market stabilizes. A bold comment, surely, but not one without merit. It is worth noting that the Secretary-General did not offer any hints towards future OPEC policy changes or more specifically towards the reduction of their production target.
On the other hand T. Boone Pickens has, since early December, declared his certainty that we will return to 100$ levels in the next 12 to 18 months. This prediction however, is firmly linked to the belief that OPEC will not be able to hold their production ceiling for very long and will be forced to revise it accordingly.
Opinions on the question of whether oil price will return to triple digit levels are exceedingly varied. While there is surely evidence to support both claims, it seems to stand to reason that, with OPEC being by and large the most important player in the oil market, any significant increase in oil prices will depend on at least a partial revision of OPEC’s policies. In truth, it seems doubtful that OPEC will be able to maintain the current policies amidst raging market pressure.
There are of course numerous factors directly or indirectly affecting future oil prices. This makes any attempt at a clear prediction troublesome. With current industry investments rapidly leading the industry to a state of underinvestment, production could very well be affected negatively in the medium to long term future.
The instability of the past two months has had a great effect on economies on a global level. Industries left and right have been directly affected by the resulting frenzied conditions. Shipping, being so closely connected to the oil market, has already been affected significantly. However, the future of oil and the effect of its price and supply on the shipping industry is unclear and we will have to keep an eye on a variety of factors in order to be better hedged against adverse market developments.
By Linos Kogevinas
Marketing - Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Thursday, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
Monday, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
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Showing 3216 to 3220 news of total 6871 |
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- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Parliament of New Zealand
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
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