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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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- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Planning Commission, India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
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