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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, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Planning Commission, India
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
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