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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, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
Monday, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
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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- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
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