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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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Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
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