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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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