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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, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
Wednesday, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
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Showing 1836 to 1840 news of total 6871 |
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- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
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