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