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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, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
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Showing 1816 to 1820 news of total 6871 |
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- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
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