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Wednesday, 06 June 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
 As observed last month the price of oil hit its highest level since November 2014 reaching $80 per barrel. Global oil demand growth for 2018 was slightly revised from 1.5mb/d to 1.4mb/d, bearing the effect of higher oil prices. The geopolitical turmoil has caused elevated concerns over potential disruption to supplies.
The decision of the U.S. President Donald Trump to withdraw from the nuclear deal and re-impose sanctions on Iran caused markets to price in the impact of deteriorated Iranian crude exports. In particular, Iran produces about 2.4m barrels a day accounting for 4% of global oil supplies. However, the European Union is firm on keeping the agreement alive and not to pose sanctions on Tehran. Further, the IEA has stated that they would examine whether other producers would step in and offset a disruption to Iranian exports.
Accordingly, last week Saudi Arabia and Russia announced that OPEC and other members intend to lift supply and revive oil production, to make up for impending losses from Venezuela and Iran diminished output. In reaction to such announcement last week oil prices declined with notable the longest run of losses since February, 2018. Respectively, with projections of oil supplies shrinking and trembling prices, the two nations consented to restore some of the oil output they had freeze.
OPEC and Russia produce more than 40% of the world’s oil. As per analysts and various producers inside OPEC, reaching an agreement in the upcoming OPEC meeting in Vienna seems challenging. It is argued that Saudi Arabia and Russia have nothing to gain from reduced output, and plenty to lose if oil prices continue last week’s sharp decline. According to IEA, since the 2016 agreed productions cuts, Saudi Arabia has decreased their daily oil output by almost 590k barrels per day, Russia 250k barrels and U.A.E. 141k barrels per day respectively. Overall the oil output cuts by OPEC and partners have brought oil supply and demand close to balance with IEA’s recent statement “mission accomplished” pretty much confirming this.
The economic and political distress affecting the oil-rich Venezuela has led to collapsing crude production even from the country’s mature oilfields. Such downfall in oil output has affected oil markets quicker than expected. The situation is disappointing as Venezuela’s oil industry is falling apart, while conditions in the country degrade, with increased corruption, problems with payments and equipment breaking down. Furthermore, U.S. shale oil production is at record highs, with output doubling the last decade.
Iran and Venezuela are not the only foundations of geopolitical volatility causing disturbed oil prices. The ongoing acceleration of tensions between Saudi Arabia and Iran, continuing conflicts in Iraq, Libya, Syria and Yemen have significantly shaken the region. As reported, a direct military confrontation between Iran and Saudi Arabia is seen unlikely, while any degree of conflict intensification in the region would undermine stability. The IEA has advised that the recent geopolitical events have increased ambiguity over future global oil supplies. Worldwide, the economy is strong, with the IMF predicting 3.9% growth this year. Vigorous economic activity is an important feature in rising oil prices and thus we shall wait and see the outcome of OPEC and further members’ upcoming meeting and if an agreement will be achieved in reference to production output levels.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
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Showing 1706 to 1710 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
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