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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, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
Wednesday, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
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Showing 1846 to 1850 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Latin American Coal - Colombia
- The University of Queensland
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
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