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Wednesday, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
 For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major factors affecting the commodity price as a whole.
Brent price closed yesterday at $62.90 down from 64.65 last week, which was the highest level reached since June 2015.
Efforts by OPEC and Russia to cut output by the on-going policy, which is already expected to extend throughout the first quarter of next year as well, have curbed excess supply in an effort to prop up the commodity price and seek and end to the global supply glut which has sent prices plummeting over the past two years.
OPEC has also continually revised its global demand outlook upward since July, noting an expected increase to 33.42m barrels next year. OPEC and other producers will meet again on the 30th of November in Vienna and are expected to agree to a further extension of production possibly for another 9 months up until the end of 2018.
The recent wave of arrests in Saudi Arabia has been touted as a corruption purge. However, seeing as this is also an empowering move for Mohammed bin Salman who has been an outspoken supporter of OPEC’s production cuts past 2018, it further increases the chance of these cuts being extended further.
However, these efforts are being undermined by a 12-month continual increase in US shale oil which has been triggered by the increased price. US Shale production is set to further increase in December by approx. 80,000 barrels, with the US rig number increasing quickly during the past months. Reports have been actually confirming another nine rigs added during the past days, which brings up the total number up to 738 rigs, an increase in excess of 60% compared to twelve months back.
While global stocks are falling for the first time since 2013, we won’t be surprised to see the increase in US and other supplies halting this decline within next year and together also halt the upward path the price of the commodity has followed in the past months.
One of the wild cards to keep an eye on is Venezuela which has been facing various issues in repaying its massive debts. Following a $1.1bn payment on state-oil company PDVSA’s issued bond last week, President Nicolas Maduro announced that this would be the final time it paid its creditors fully and that his intent is to seek a restructuring regarding future debt payments, which is putting Venezuela’s ability to pay its debts altogether into question.
Formally defaulting, could quite conceivably put further stress on the country’s oil output and therefore on the commodity price. Venezuela’s oil production has already been under considerable pressure in the past year, with October marking its lowest production in 28 years, at 1,863m barrels per day.
The aforementioned issues place oil prices in a tenuous, unstable situation. With caution regarding the rising US production, which could possibly result in a price correction, expectations for next year should perhaps be less bullish than what they currently are.
By Linos Kogevinas
Commercial Executive - Cotzias Intermodal Shipping
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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Thursday, 16 November 17
KOMIPO INVITED BIDS FOR 3.9 MILLION TONS OF 5700 NAR AND 5400 NAR COAL FOR 2018 - 2020 DELIVERY
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 3,900,000 Metric Tons of min. 570 ...
Thursday, 16 November 17
THE PORT OF NEWCASTLE HAS SHIPPED 14.94 PERCENT LESS COAL IN OCTOBER 2017, DATA SHOWS
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,466.8 ...
Thursday, 16 November 17
GOVERNMENT, 13 COAL MINERS AGREE TO CHANGE CONTRACTS - JP
The government and 13 coal mining companies have agreed to change the old Contract of Work (CoW), as part of the implementation of Law No. 4/20199 ...
Wednesday, 15 November 17
IEA RECOGNISES COAL'S CONTINUOUS IMPORTANCE TO GLOBAL ENERGY NEEDS - WCA
The World Coal Association (WCA) has welcomed the International Energy Agency’s (IEA) recognition that coal will continue to play a vital rol ...
Wednesday, 15 November 17
THERMAL COAL WAS DRAGGED DOWN BY THE WEAKNESS ACROSS THE WIDER ENERGY SECTOR - DANIEL HYNES
The coal market was mixed.
Thermal coal was dragged down by the weakness across the wider energy sector, said Daniel Hynes Senior Commodi ...
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Showing 1876 to 1880 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Planning Commission, India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
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