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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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- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
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