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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, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
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- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- The University of Queensland
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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