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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, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Afric ...
Friday, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
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- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
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