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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, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
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- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
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