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Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
 China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and production capex (E&P) in 2015 and 2016 due to persistently low crude-oil prices, Fitch Ratings says in an Outlook report.
Fitch believes upstream production shrinkage could be steeper in 2017 than our forecast of a 6%-8% fall in 2016. The Big-Three national oil companies - China National Petroleum Corporation , China Petroleum & Chemical Corporation (Sinopec) (A+/Stable) and CNOOC Limited (A+/Stable) - may also revise down their reserves further.
Fitch believes Chinese oil & gas companies' ability to significantly improve free cash flow will be limited in 2017 - despite stabilising oil prices - in light of reinvestment needs aimed at reserve replacements, and at Fitch's assumption of an average oil price of USD45 per barrel in 2017. Falling domestic production can, however, further narrow the gap between the benchmark Brent price and the oil companies' realised oil prices; that gap had widened significantly in 2016, and materially affected their cash generation.
Margins for refining and chemical operations in 2017 are also likely to narrow, especially with oil prices having rebounded slightly since 2H16, though these sectors are likely to be more profitable than E&P for integrated companies, such as Sinopec and CNPC/PetroChina, at the assumed oil-price level.
Oilfield-services companies are likely to see an increase in domestic project volumes in 2017, though rates are unlikely to recover significantly; independents will be further plagued by prolonged receivable turnover.
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Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
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- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Australian Coal Association
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
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