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Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
 Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this publication, the former figure being the highest it has seen since December 2014.
According to Allied's Research Analyst Gerry Lathrop, this has been in part due to the weakened US dollar, a massive decrease in the total global crude storage, as well as the highest rate of OPEC conformity to their oil production cuts, which was announced this past week in the Joint Ministerial Monitoring Committee (JMMC), in Muscat, Oman. The committee is made up of OPEC and non-OPEC member states, and although its primary goal was not to discuss further production cuts, the question was on the table as to whether they would continue their plan through to 2019.
The answer to that is very much like a social media relationship status, “Its Complicated”. As previously mentioned, oil prices are hovering around a 3-year high, having increased by at least 10% since OPEC’s last meeting in Vienna this past November, and more than 50% from 6 months ago.
On the supply side, Gerry Lathrop said, the number of US oil rigs in 2017 and 2018 reached a new high, surpassing the number of rigs operating in 2016, and leading to a 16% rise in US oil production which peaked at around 9.75m b/d. The International Energy Agency on Friday raised its forecast for US production growth to 1.35m b/d for this year, making up by far the biggest chunk of supply growth outside of OPEC countries. The IEA then went on to say, US crude production is on course to overtake Saudi Arabia and rival Russia, as it made an upward revision on its 2018 growth forecast and stressed that “explosive” expansion in shale was offsetting OPEC-led supply cuts. The IEA, which is the latest body to raise US estimates, following the US energy department’s statistics arm and OPEC’s own research unit, has said: “This year promises to be a record-setting one for the US.”US growth of nearly 1.4m barrels a day, to a record 10.4m b/d, will help propel non-OPEC supply by 1.7m barrels a day in 2018 (Total output from outside the cartel is forecast to reach 59.8m b/d), dwarfing the level of supply cuts in OPEC crude output.
Gerry Lathrop further commented, but it's not all smooth sailing for people in the downstream oil market, the recent OPEC-led rally in crude prices is hitting refinery profits hard, flashing warning signs over oil’s Bull Run. Higher oil prices typically quench consumption and squeeze profit margins at refiners that convert the feedstock into products. Benchmark profit margins in key refining hubs dropped sharply in recent weeks - by over 50% in the U.S. Gulf Coast and northwest Europe, Reuter's data shows - increasing expectations that some refiners will reduce operating rates. However, a wave of refinery maintenance scheduled in spring could eventually put a downward pressure on crude itself. According to the IMF’s most recent upward revisions on its estimates for global economic growth, we are currently witnessing some of the strongest growth figures in years and these (relatively) low oil prices could well boost global oil consumption by a further 1.3m b/d this year, a number the IEA acknowledges is “conservative” compared with other forecasts. Others have predicted demand growth could approach 2m b/d this year, more than double the rate of 2011-2014. Given the above, 2018 could well prove to be the turning point in the tanker market that all of us have been hoping for or at least the spark that sets it in motion.
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Wednesday, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
Monday, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
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Showing 1776 to 1780 news of total 6871 |
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- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Planning Commission, India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
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