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Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
 On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, which comes at a time that the realm faces a fall in energy revenues. Furthermore, last month the Kingdom reported the already premeditated economic reforms to decrease its reliance on oil and develop a long-term sustainable expansion, with arrangements for a monstrous $2 trillion fund to lift its worldwide investment power plan.
Particularly, the implementation of the named “Vision 2030” plan visualizes the country to operate without its major dependence on oil income by 2030. As announced, the plan encompasses the expansion of the realm’s tourism industry, developing the capacity of its military industries, reducing sponsorships to save money, generating job initiatives while restructuring its education system and establishing a Green Card-style residency system for Arabs.
Moreover, the setting up of the Public Investment fund of $2 trillion includes the $100bn that are expected to be raised from Saudi Aramco’s Initial Public Offering (the biggest IPO in history), with Prince Mohammed Bin Salman stating that the Saudi addiction to oil has disrupted the development of many sectors in previous years. As a result, the Kingdom aims to gain exposure to international markets and thus attract investments in all aspects of its economy with greater transparency.
Saudi Arabia’s new vision 2030, being ambitious and comprising of diversified policies reflects a long term initiative for economic progresses that have gained grounds from low oil prices and new-generation leadership. Gulf countries have been developing similar policies for years with Bahrain publishing its vision 2030 in 2008 and Abu Dhabi issuing one in 2009, both led by princes who wanted to associate themselves with economic transformation and collective consciousness. The April’s meeting and discussion of oil-rich countries in Doha for a production freeze in order to boost oil prices, led to no-agreement as Iran declared an increase on its output. Alongside, it was just about a year and a half ago that Ali-al-Naimi urged OPEC to maintain output, rather than reduce production and support oil prices. Effectively higher cost producers were squeezed, mainly shale oil drillers. Similarly, Saudi Arabia itself has suffered an incredible loss by foreign-exchange reserves dropping and economic growth slowing.
Inevitably, the above measures will likely lead to the most radical transformation of the kingdom since its establishment in 1932. The plan itself is the evidence of the seriousness with which the authorities are taking the effects of squeezed oil prices on the economy and consequently the socio-political impact that has shaped the state-society relations. The world’s energy map is being revamped as global growth slows down. Iran’s reintegration is shifting the regional strategic dynamics. Saudi Arabia, long familiar to being the leading player in the area, must adapt to these changes.
Consequently, the Kingdom’s strong presence in crude oil and oil product markets affects the demand for oil tankers, the world’s primary oil transportation. Therefore, “Vision 2030”, which aims at less dependence on petrodollar income and further diversified domestic and global investments, may be the result of possible pessimistic expectations about further oil-driven world growth and it could even be the signal for even lower oil prices in the future. What would be the effects on the notoriously volatile shipping industry? It remains to be seen.
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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Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
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- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
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