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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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Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
Thursday, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
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Showing 1846 to 1850 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Planning Commission, India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
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