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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, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
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- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
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