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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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- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- The University of Queensland
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
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