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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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Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
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- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Planning Commission, India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- PTC India Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
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