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