We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 16 December 15
MARKET INSIGHT - KATERINA RESTIS
 On Friday 4th of December the meeting of OPEC was held in Vienna, Austria. Since its last meeting, oil and product stock levels have continued to rise and inventories are now standing above the five-year average. OPEC decided to maintain production at 31.5 million barrels per day although failed to reach to an agreement in reference to production ceiling. As a result, crude oil prices slumped with Brent and U.S. futures falling below $40 a barrel, for the first time since 2009. Since Saudi Arabia drove a year ago OPEC's choice to maintain production and defend its market share by pressuring higher-cost producers, oil price has slid down 40%. The absence of a limit on OPEC’s production could add millions of barrels of additional crude next year, from countries such as Iran and Iraq, though OPEC plans to discuss accommodation of higher supplies at its next meeting in June, 2016.
OPEC expects global economic growth to close off at 3.1% this year, due to the slowdown in the emerging economies and the low US growth in the third quarter. For 2016, world economic growth is expected to progress to 3.4%, with US growth at 2.5% and total OECD growth at 2.1%. World oil demand is assessed to grow on about 1.25 million b/d, while EIA estimates global consumption of petroleum and other liquids to increase by 1.4 million b/d in 2016, with China continuing to be the main driver of non-OECD oil consumption growth. Overall, as global petroleum and other liquids production overtakes consumption, the balance between supply and demand becomes more difficult to be restored, with expectations of a more well-adjusted market pointing to the end of next year.
It should be noted that EIA's crude oil price prediction for 2016 is subject to essential vulnerabilities as the market tries to move towards stability. The oil market faces numerous challenges, including the pace and capacity at which Iranian oil supply reenters the market, the strength of oil consumption growth and the responsiveness of the excess production/supply to low oil prices. Low oil prices have already caused delays or cancellations of scheduled projects, like the cancellation of the 80,000 b/d Carmon Creek project back in October by Shell.
It goes without saying that in regards to the shipping industry, the implications of lower oil prices are significant. In the beginning of each year Worldscale flat rates are reset, with the bunker component being the most critical element to their calculation, based on prices between October and September. The fall in oil prices has led to a major decline of bunker prices. Accordingly, it is projected that for 2016 Worldscale flat rates will decline by more than 25% on long haul routes and by almost 20% on short haul routes. Bear in mind that for long haul routes, bunker costs are undoubtedly the primary expense borne by the Ship-owners during a voyage.
To conclude with, it is argued that there will need to be more than a slight movement on reserves and demand in order to adjust supply and thus sustain oil prices higher, especially as fears of a long period of an oversupplied market have set in crushing sentiment. Specific policy is needed to be set by major producers either within or outside OPEC, in order to motivate traders that any positive correction in the price of oil will be viable, especially ahead of Iran’s return to the market. Otherwise predictions of another dive of oil prices may come true.
Katerina Restis
Tanker Chartering
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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
|
|
|
Showing 2671 to 2675 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
|
| |
| |
|
