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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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Wednesday, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1851 to 1855 news of total 6871 |
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- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
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