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