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Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
 Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The current production cut schedule prior to OPECs meeting this past week, was supposed to last until March 2018, however it has come to light that it will now be extended until the end of 2018, in an attempt to prop up prices as many of OPEC’s members continue to feel strain from the low earnings generated by crude oil sales said Gerry Lathrop, Research Analyst at Allied shipping.
Gerry Lathrop further noted, what’s more is that Saudi Arabia, OPEC leading member, has to deal with ARAMCO’s planned IPO in 2018, which could greatly benefit from the higher crude oil prices. At the same time and in order for the Saudi Government to meet their government budget requirements and reduce their reliance on their cash reserves, are looking at a price target of around US$ 60 per barrel. This is contrary to Russia’s stance who would prefer oil prices to remain lower, and apparently would prefer a target of US$ 40 per barrel at the off chance that higher prices cause the US’s shale oil producers to head to the fields again. In addition to this, OPEC members Libya and Nigeria, who were previously exempt from production cuts, have now agreed to also cap production at their 2017 levels.
This of course can have a profound effect on the shipping side, where the mere talks of a production cut has oil traders rushing to their desks to close their next deal. In short, if oil prices start to show a trend of further price gains, oil traders and refiners will rush to book cargoes, so they can price their end products on competitive level and possibly benefit from a better profit margin, increasing demand in the crude market in the very short-term. In the long-term, if the price of oil also goes up, it is likely to dampen overall demand and cause a potential slowdown in trade. This negative effect however tends to be limited given that crude oil has fairly inelastic demand.
According to Gerry Lathrop of Allied, on the non-OPEC side of things, crude oil production in the US has hit a new record production level of 9.7 million barrels per day on average for the week ending November 17th, according to statistics from the US EIA. Similarly, crude oil imports from Venezuela to the Louisiana Offshore Oil Platform (LOOP) for the period of January to November 2017 are around 7 million barrels, which is almost 3 times as much as what we were seeing during the same time frame last year (2.5 million bbls). The main reason for importing so much Venezuelan crude seems to be mainly due to the lack of availability of Saudi Arabian heavy/sour crude resulting from their production cuts. According to US customs data, imports from Saudi are down 45% from 75 million barrels to 42 million barrels for the same 10-month period. This has undoubtedly caused much of the softening in the crude tanker market of late by removing many ton miles from the market.
In any case, it will be interesting to see which direction the market will trend come June of next year, as the tug of war continues between Russia’s stance on lower crude prices and Saudi’s preference for higher prices. We will probably see the price fall somewhere in between these respective price targets during most of 2018, while if prices increases above Saudi’s US$ 60 per barrel, a relatively swift ramp up in US shale oil production should help quickly push things back down. This points to the main risk by both OPEC and Russia, with any further cost efficiencies achieved by US shale producers allowing them to capture a higher market share and even make these production cuts irrelevant to the overall market.
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Saturday, 10 February 18
OIL PRICE USD 100/BARREL BY END OF 2018! - SAROJ MOHAPATRA
All demand supplies calculations are going wrong in oil market at present. US production is increasing at a good pace and set to topple Saudi comfo ...
Friday, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
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Showing 1811 to 1815 news of total 6871 |
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- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- PTC India Limited - India
- Parliament of New Zealand
- Mjunction Services Limited - India
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