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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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- PTC India Limited - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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