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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, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
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Showing 2416 to 2420 news of total 6871 |
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- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
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