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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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Wednesday, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
Tuesday, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
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Showing 1886 to 1890 news of total 6871 |
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- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Planning Commission, India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
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