We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
 On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together producers and consumers to discuss the present energy market conditions. After the closing of the IEF conference, OPEC Ministers held informal talks in an effort to cut a deal that would either freeze or reduce oil supply in pursuit of more stabilized markets and elevated oil prices. The current output OPEC members is more than 33.2 million barrels a day and inventories will grow even higher if no action is taken. It has been argued that oil production needs to be reduced by 1 million barrels a day so that the market rebalances. Likewise, Algeria’s energy minister reasoned that “oil has sufficiently fluctuated on speculation that OPEC and Russia will agree to support oil prices in the midst of oversupply”.
The question that arises is if OPEC members can do the impossible, which for most seems like having a mountain to climb. As discussed, one of the reasons that oil prices are low is due to the oversupplied market with members having had no success in negotiating production cutbacks so far. Major producers, driven by Saudi Arabia have been pumping at near record levels over the last two years, trying to maintain their market share by squeezing out higher cost producers such as the U.S and Canada. Consequently, since 2014 oil prices have dropped by 60% and U.S. production has diminished. The income of nations such as Nigeria, Saudi Arabia and Russia depends on their exports and low prices have proven to be troublesome. Furthermore, consenting to production freeze at current levels may seem a fair compromise but not a promising solution. IEA forecasts that global oil surplus will last well into 2017 as demand grows at a slower pace than previously foreseen, particularly in Asia. Meanwhile, not only OPEC members output is at record levels but Russia is also producing close to its maximum capacity, while Libya and Nigeria indicate they want to raise their output for the rest of this year.
Moreover, Iran's full on return earlier this year further affected the market, as the country has been continuously increasing its oil output in an effort to once more claim its place as one of the world's top oil exporters. In any case, Saudi Arabia won’t wish for Iran to expand its production while the country itself is cutting back as that would mean handing over market share to its main regional competitor. It was recently reported that Saudi Arabia may agree to decrease production if only Iran acknowledges freezing its output level. Either way, once OPEC members come to an agreement they won’t want prices to go higher than $55-60 per barrel as they will risk helping higher cost competitors, such as shale oil producers, to get back in the game.
Inevitably, the equilibrium point is fragile for leading oil producers to achieve. On one side, a greedy stance to accomplish higher prices will give the leeway to higher cost producers to step in and on the other side a conservative attitude to defend their market share, flirts with the risk of operating at a loss. The global oil market has faced numerous difficulties, deriving essentially from excess supply. Oil-exporting countries and companies’ profits have deteriorated, increasing their budget deficits and crippling their economy. Additionally, those low prices inevitably lead to layoffs and reductions in new venture spending. But even with all these negative effects, the scenario in which the stagnation of oil major oil producers eventually leads to demand exceeding supply and leads to higher prices is a bit off. So IT IS really down to OPEC’s joined action despite many believing that the organization can’t do much these days.
By 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 reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
The 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.
|
|
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
|
|
|
Showing 2311 to 2315 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
|
| |
| |
|
