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