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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, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
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- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- The University of Queensland
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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