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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, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
Tuesday, 20 February 18
INDIA: COAL IMPORT RISES BY 12 PER CENT TO 18 MILLION TONNES IN JANUARY - PTI
The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.
44 MT in the same month of the ...
Monday, 19 February 18
JOINT INSURANCE - WHY SHOULD YOU CARE? - SKULD
KNOWLEDGE TO ELEVATE
It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each othe ...
Friday, 16 February 18
U.S. WEEKLY COAL OUTPUT DOWN 4.5 PER CENT WEEK OVER WEEK, 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 ...
Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
Coal-based power plants are feeling the heat of spike in thermal grade coal prices and railway freight costs.
Prices of thermal grade coal sin ...
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Showing 1801 to 1805 news of total 6871 |
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- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Minerals Council of Australia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
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