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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, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
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- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
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