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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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Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
Tuesday, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
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Showing 1896 to 1900 news of total 6871 |
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- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- White Energy Company Limited
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
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