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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, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
Tuesday, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
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Showing 1856 to 1860 news of total 6871 |
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- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
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