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Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
 Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen more than 70% since the middle of 2014. Oil supply outpaces demand on any given day, and billions of barrels of oil are being stored rather than consumed. As a result, oil prices have collapsed to as low as $26 per barrel in February, from well over $100 in 2014.
It is interesting that currently, Iran and Iraq both play an important role in the contemplated production freeze. Iran has already been increasing production and the country’s position is that it would consider oil-production caps only after the country’s output rises back to the levels before the West imposed sanctions over its nuclear program.
Basically Iran wants to increase production now, in an attempt to revive their share in the global markets, before they even consider discussing about participating in an output freeze. Iraq also has a longstanding policy of seeking to raise production regardless of the price-stabilizing policies of the OPEC.
Russia said that OPEC’s meeting with other key oil producers regarding an output freeze will probably be held in Doha, Qatar in April. They said that Iran supports the plan, while Tehran says it wants to double its crude exports to 4 million bpd first.
However, in reality according to the latest oil market data, both Russia and Saudi Arabia ramped up their oil production in February, despite talks about supply caps. Russian oil supply reached a new high of 11.08 million barrels a day in February, and Saudi Arabia during the same month increased its daily output by 14,000 barrels, to 10.14 million barrels per day, according to OPEC's analysis of market sources.
Generally speaking, countries are less willing to freeze and especially to cut production, because doing so means giving up market share for their oil, which might be hard to win back especially during this transition period. The four major oil powers, Saudi Arabia, Russia, Venezuela and Qatar, are heavily involved in the various discussions and the coordinated efforts will probably include soon also non OPEC countries such as Oman, Kazakhstan and Azerbaijan.
Assuming all are on board, the oil glut could begin to ease, particularly with American output on the decline. Or at least that is what they anticipate with this concept.
The fact is that a two million barrel-per-day surplus in oil supplies will continue to weigh on prices in the short term and even if these countries freeze output, they would still need more drastic efforts to support prices in the long term.
From my own perspective, it looks like their ultimate goal is to reach a certain consensus and, if they actually get there, I would expect them to quickly focus on actually reducing production in the long term. In any case, analysts estimate that maintaining production at current levels will probably not have a significant effect on prices.
Christopher Thomas Whitty
Marketing Manager - 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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Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
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Showing 2521 to 2525 news of total 6871 |
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- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- The University of Queensland
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
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