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