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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, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
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Showing 2516 to 2520 news of total 6871 |
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- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Planning Commission, India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
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