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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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Friday, 09 March 18
THE WORLD CANNOT KEEP IGNORING THE ASIAN COAL STORY - BENJAMIN SPORTON
There were significant changes in the global energy system in 2017, including the growth in electric vehicles, the rise of renewables and the conti ...
Friday, 09 March 18
U.S. EXPORTED 97 MMST OF COAL IN 2017, A 61 PER CENT INCREASE FROM 2016 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.1 million short tons ...
Thursday, 08 March 18
BUMA SIGNED OVER US$ 500 MILLION WORTH OF NEW CONTRACT WITH PT TANAH BUMBU RESOURCES
PT Delta Dunia Makmur Tbk., announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into mining services ...
Thursday, 08 March 18
THE ENERGY CONTRIBUTION FROM COAL-BASED POWER PLANTS IS LIKELY TO INCREASE TO 1072 BU BY 2021-22 : PIB
Government of India has set an ambitious target of 175 GW from Renewable energy sources (RES) by 2022, which comprises of 100 GW Solar, 60GW from W ...
Thursday, 08 March 18
SUPRAMAX: THE MARKET IS STILL GOING STRONG IN THE PACIFIC - FEARNLEYS
Supramax
The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore run ...
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- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- PTC India Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
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