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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, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Australian Coal Association
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
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