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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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Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
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- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
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