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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, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
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- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- The University of Queensland
- Eastern Energy - Thailand
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
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