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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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Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Planning Commission, India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- The University of Queensland
- PTC India Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
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