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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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Friday, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
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Showing 1841 to 1845 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Videocon Industries ltd - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
- White Energy Company Limited
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
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