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