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Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
 In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. Following a number of unsuccessful efforts by OPEC and non-OPEC members to limit production during the past year, the group is meeting again this coming Thursday in Vienna in order to discuss future production policy. However, there are doubts concerning the likelihood of any such potential agreement taking shape this time round either.
With oil having gained about a third since January 2016, some of the pressure on OPEC members should have been alleviated. This is just as well since, with Iran firmly resisting OPEC’s prompts to limit production and pumping at pre-sanction levels ,(Production: 3.56mb/day, exports: 600kà2mb/day) there is little, if any, hope in them coming to an agreement with the other members. While at least 8 members would conceivably support a production cut, it is the players controlling the larger parts of the market share that will have the final say in any policy change.
At the same time, Saudi Arabia is continuing the path set out in November 2014 and is seemingly moving towards a less oil-centric economy under the recently announced Saudi Vision 2030 plan. The recent replacement of Ali Al-Naimi is a step in the same direction. With the recent hike in prices, Saudi Arabia has few reasons to consider a change in a policy that has been instrumental in squeezing out higher-cost producers. Under a scenario like today’s, Saudi Arabia may well accept lower oil prices as it would minimize the opportunity cost of diversifying away from oil. It is difficult to imagine the Saudis veering away from their established strategy. Similarly, Iraq has also boosted production by 40% since 2014 and is exporting at near-record levels.
The smaller OPEC members are divided in their support based on how their economies have been affected by the oil price drop. Countries such as Algeria, Ecuador and Venezuela whose economies are dependent on high oil prices are calling for a production freeze, while others such as Indonesia and Kuwait have instead declared their intention to increase production significantly.
The effect of the price hike on US producers is worth noting. The $50 barrier was perceived by the market as a level around which a number of US producers would consider restarting their rigs, something that did happen last year during a similar increase from $50 to ~$60. However, the increase was not sustainable then and it is reasonable to assume that US producers will be wearier to restart production now.
All in all, there are few expectations for any meaningful change in policy after Thursday’s meeting, with most analysts seeing no incentive for the stronger OPEC members to cooperate or converge on their policies. While an output freeze a few months ago had started to appear like a potential outcome, the increase in prices in the meantime along with the hardening of the Saudi and Iranian stances has severely reduced the chances of such a development. As seen during the past two years, shipping can, especially during a weaker market, be greatly affected by changes in oil prices. Let’s not forget how the commodity’s price performance took everyone by surprise back in 2014 and let’s hope that whatever the oil market developments in the following months, the positive momentum of this period remains in effect.
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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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Showing 2421 to 2425 news of total 6871 |
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- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Marubeni Corporation - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
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