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Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
 Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made a splash with a catchy beat and a noticeable video clip reaching the top of the charts. The oil market on the other hand, may attract attention however, whether it will head for higher or lower levels remains very uncertain.
As far as the performance of the crude oil price is concerned, the signals we are getting are so far mixed, with discouraging fundamentals and optimistic headlines equally affecting prices. Both OPEC and Non-OPEC countries have agreed a production cut as a way to deal with the global oil glut and low prices, which resulted in the Brent blend rallying from $46/bbl to a peak of $57/bbl on 6th January, while it’s currently trading around $55/bbl. So far, so good for the big boys of oil but what about the long-term sustainability of these higher price levels?
Russia’s production reached record highs in December and the second-biggest oil producer seemed very happy at this year’s World Economic Forum not only due to their large oil-driven revenues so far, but also due to positive expectations deriving from the new US president who suggests to ease or even remove sanctions imposed on Russia. Even though Russia’s production plays a significant role, the bigger determinant leading to the persistence of the glut could be US shale oil producers. With notably more operating costs and thus a higher breakeven than other oil extractors, most of shale drillers had shut-down production during lower prices only to come back into profitable business at current levels. Finally, taking into consideration the fact that the US dollar has strengthened, hitting a 14-year high during December, pressure for lower price levels grow stronger.
Keeping this insight melodic, you might recall the lyrics of another popular song of the 90s; “Hello, hello, hello, how low?”. Could this be the tune for the tanker market in 2017? The dominant common factor for both the dirty and clean market is the large number of newbuilding deliveries that could potentially lead to lower freight rates. Saying that, as in the short-run tonnage supply will not significantly change; demand is expected to primarily drive the market in the following months. In the dirty sector, lower oil prices may drive demand for ships higher however; those already excessive inventories could be an obstacle to such rally. The outlook for product tankers falls no further from the mixed-signal environment the dirty market operates in, with the LR market seeing a record-high in vessel deliveries. Greater diversification with respect to trade routes and cargoes, especially in the MR market allow for wider range projections; still forecasts for demand growth for petroleum products making any prediction for the freight market challenging.
In conclusion, well, is there any yet? Amidst mixed fundamentals it would be careless to prematurely jump to any conclusions, as market sentiment has proved to be not only an unpredictable factor but also an influential one. Under the current state of uncertainty, it is still unclear whether the bears will prevail or the bulls will be justified and thus the only safe conclusion that can be reached is nicely summed-up in the title of another pop music hit called “Blank Space”.
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Monday, 15 January 18
QUEENSLAND SHIPPED 210.8 MT OF COAL IN 2017, DOWN 5% YOY QUEENSLAND RESOURCES COUNCIL
Queensland's coal exports over the 12 months reached 210.8 mt which is down 10 mt or 5 per cent from the previous year’s record of 220.8 ...
Thursday, 11 January 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS FIXING AT AROUND $10K - FEARNLEYS
Supramax
USG rates improved both for backhaul and fronthaul, Ultras from USG to Japan receiving around $26k daily while supras 1-2k less for same ...
Wednesday, 10 January 18
2018: IT IS PROJECTED, THE SHIPBUILDERS WILL DELIVER FOUR HUNDRED FORTY NEW VESSELS IN 2018
Headlines from IMF's 2017 – World Economic Outlook:
January 2017 - “After a lacklustre outturn in 2016, economic activity is p ...
Tuesday, 09 January 18
INDONESIAN GOVERNMENT DECLARED COAL REFERENCE PRICE UP IN JANUARY
COALspot.com: the Indonesian Coal Price Reference ( HBA) rose 1.60 per cent in January 2018, the latest ministerial decree showed.
The benchma ...
Friday, 05 January 18
U.S. WEEKLY COAL OUTPUT FELL 32.4% PER CENT WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 10.5 million short tons ...
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Showing 1831 to 1835 news of total 6871 |
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- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
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