Revisiting Apexindo
Oil and gas supporting services company PT Apexindo Pratama Duta (APEX) Tbk is one of few companies reporting positive results in the first half of 2015. While APEX received US$27 million in insurance compensation against US$27 million losses in the same period of 2014, fundamentals of APEX improved in the period.
Rally of Palm Oil & Shares
The benchmark December 2015 contracts of crude palm oil (CPO) jumped almost 4% to RM2342 per ton on the Bursa Malaysia Derivatives Friday, the highest level in months. March-July 2016 contracts also ended mostly above RM2400 per ton, while October contracts settled at RM2259 per ton.
Survival of the Fittest (Miners)
Shares of mining giants end mostly lower grounds worldwide Tuesday (Sept 22) to tracking the commodities. Peabody Energy, the world’s largest coal producer in private sector, collapsed 13% in New York, while Glencore crashed 10.6% in London. Vale and Teck Resources also dropped 7.6% and 5.7% respectively.
Abadi LNG Project: Floating LNG vs Gas Pipeline (2)
Amien Sunaryadi, chief of the Upstream Oil and Gas Regulatory Special Task Force (SKKMigas), rebuffed earlier statements from coordinating minister for maritime and resources affairs Rizal Ramli about cost comparisons of a floating LNG vs gas pipeline options in the development of Abadi LNG in the Masela Block, offshore Maluku province. This is not the first time Rizal’s statement rebuffed by people structurally below him…
Palm Oil Prices & Plantation Shares
Plantation shares end mixed in the region Tuesday (Sept 22) even though crude palm oil (CPO) advanced in the futures and physical market. Some investors were concerned about persistent volatility of the commodity after moving in wide range in the past two weeks.
Abadi LNG Project: Floating LNG vs Gas Pipeline
Development of the giant Masela Block offshore Maluku province might enter a new dynamic. Coordinating minister for maritime and resources affairs Rizal Ramli suggested Inpex/Shell to build gas pipeline instead of a floating liquefied natural gas (LNG).
Volatility of Commodities (3)
After losing more than 3% late last week, the benchmark December 2015 contracts of crude palm oil (CPO) gained almost 2% this morning. January 2016 contracts also regained RM37 to RM2177 per ton on the Bursa Malaysia Derivatives Monday (Sept 21).
Revival of M&A: MBO on Martabe Gold
After long period of pause due to global and domestic slowdown, some investors have returned to the merger & acquisition table. This time, they’re targeting Martabe gold mine in North Sumatra province, one of the fastest growing gold mines in Indonesia, which is currently controlled by HKSE-listed G-Resources Limited.
Volatility of Commodities (2)
Crude palm oil (CPO) lost another 3% in the futures market Thursday after dropping 2% on Wednesday. The commodity gained 10% before the corrections. WTI crude oil, meanwhile, retreated to below US$47 per barrel after the Fed left its interest rates unchanged.
Volatility of Commodities
WTI crude oil spiked 5.6% to US$47.07 per barrel on Nymex Wednesday (Sept 16) despite competing stories surrounding the commodity. Some media outlets highlighted ‘crude oil production outpaces consumption growth’ or ‘crude oil prices are trading in a downward trending range’, while others pointed to ‘US crude supplies mark first fall in 3 weeks’ or ‘US crude stockpile drop ahead of Fed’.