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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, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
Wednesday, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
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- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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