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