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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 February 18
HISTORY REPEATING ITSELF? - IEA
This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 o ...
Wednesday, 14 February 18
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
The second month of the year is traditionally a particularly interesting one for the shipping industry as a whole and even more importantly for the ...
Monday, 12 February 18
PANAMAX: WITH LIMITED FRESH ENQUIRY IN ALL AREAS, SPOT MARKET RATES DRIFTED LOWER THROUGHOUT THE WEEK - BALTIC BRIEFING
Capesize
A switch to the Atlantic with rates firming as charterers seemed keen to fix and tonnage was tight, prompting a recovery in rates. Trans ...
Monday, 12 February 18
WORLDWIDE: 'DEMURRAGE CLAIMS' FOR THE PURPOSES OF DOCUMENTARY TIME BARS
KNOWLEDGE TO ELEVATE
On 2 February 2018 the Commercial Court allowed an appeal from a decision of the Arbitration Tribunal in Lukoil Asia Paci ...
Saturday, 10 February 18
COAL INDIA ON PATH OF SUSTAINABLE PRODUCTION GROWTH AND SUPPLY TO POWER AND NON POWER SECTOR - PIB
Supply of 371.8 MT of Coal to Power Sector and 103.1 MT Coal to Non-Power Sector Achieved in 2017-18 Till January,2018 Average Rake Loading To The ...
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Showing 1806 to 1810 news of total 6871 |
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- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
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