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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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Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
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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- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Energy Development Corp, Philippines
- Planning Commission, India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
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