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