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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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Tuesday, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
Friday, 10 November 17
U.S. COAL OUTPUT FOR THE FIRST 10 MONTHS OF 2017 IS ESTIMATED AT AROUND 656 MMST; UP10% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15 million short tons ...
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Showing 1881 to 1885 news of total 6871 |
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- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- The University of Queensland
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
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