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Wednesday, 14 February 18
HISTORY REPEATING ITSELF? - IEA
 This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 on 5 March. Meanwhile, new and revised data shows a modest tightening of the balance in the early part of 2018, but the main message remains unchanged from last month and it is very clear: in 2018, fast rising production in non-OPEC countries, led by the US, is likely to grow by more than demand. For now, the upward momentum that drove the price of Brent crude oil to $70/bbl has stalled; partly due to investors taking profits, but also as part of the corrections we have seen recently in many markets. Most importantly, the underlying oil market fundamentals in the early part of 2018 look less supportive for prices.
Our demand growth estimate for 2017 remains strong at 1.6 mb/d, reinforced by November data for the US. For 2018, the more positive global economic picture published by the International Monetary Fund is a key factor in raising our growth outlook to 1.4 mb/d. It was thought that the significant increase in the dollar price of crude oil since the middle of 2017 would dampen growth, and this might be the case to some extent, but the impact of higher prices has been partly offset in some countries by currency appreciations.
It is clear that strong demand growth in 2017, alongside a modest increase last year in non-OPEC output, and the cuts made by leading producers, has contributed to the extraordinarily rapid fall in OECD oil stocks. A year ago, they were 264 mb above the five-year average and now they are only 52 mb in excess of it, with stocks of oil products actually below the benchmark. Although the OECD is not the whole world, the leading oil producers who agreed to cut output identified the level of the group’s stocks as an indicator of the progress of their initiative. With the surplus having shrunk so dramatically, the success of the output agreement might be close to hand. This, however, is not necessarily the case: oil price rises have come to a halt and gone into reverse, and, according to our supply/demand balance, so might the decline in oil stocks, at least in the early part of this year.
The main factor is US oil production. In just three months to November, crude output increased by a colossal 846 kb/d, and will soon overtake that of Saudi Arabia. By the end of this year, it might also overtake Russia to become the global leader. All the indicators that suggest continued fast growth in the US are in perfect alignment; rising prices leading, after a few months, to more drilling, more completions, more production, and more hedging. In early 2018, the situation is reminiscent of the first wave of US shale growth that, riding the tide of high oil prices in the early years of this decade, made big gains in terms of market share and eventually in 2014 forced a historic change of policy by leading producers. Today, having cut costs dramatically, US producers are enjoying a second wave of growth so extraordinary that in 2018 their increase in liquids production could equal global demand growth. This is a sobering thought for other producers currently sitting on shut-in production capacity and facing a renewed challenge to their market share. Another sobering thought is that it is not just a matter of production: trade patterns are changing. Recently we read of a shipment of condensate from the US to the UAE. Such a development would have seemed incredible a few years ago, now it looks like the shape of things to come.
The components of the oil market balance are dynamic and a lot can change in the next few months: the deteriorating situation in Venezuela is one obvious candidate, and the apparent buoyancy of the global economy could deliver higher demand growth than we currently anticipate. As a result, prices could be maintained at recent levels even as US production rises. If so, most producers will be happy, but if not, history might be repeating itself.
Source: IEA
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Wednesday, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
Wednesday, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
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Showing 1996 to 2000 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- MS Steel International - UAE
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
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