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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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Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
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Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Australian Coal Association
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- PTC India Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
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