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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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Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
Friday, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
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- Central Electricity Authority - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- White Energy Company Limited
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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