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