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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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Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
Thursday, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
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Showing 1836 to 1840 news of total 6871 |
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- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Australian Coal Association
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- The Treasury - Australian Government
- ASAPP Information Group - India
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
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