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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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Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
Tuesday, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
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- Gujarat Sidhee Cement - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
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