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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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Thursday, 21 December 17
FUEL SHORTAGE TRIGGERS JUMP IN COAL PRICES - CHINA DAILY
China’s thermal coal prices jumped recently as natural gas shortages across the north spurred an unexpected resurgence in demand for coal-fir ...
Thursday, 21 December 17
SUPRAMAX: IN THE MOST CHANCE, DO NOT EXPECT ANY DRAMATIC CHANGES IN THE NEAR FUTURE - FEARNLEYS
Supramax
Market reducing speed. Rates are dropping further for supras outbound USG on fronth, bkhaul is more stable i.e $25k/22k respectively say ...
Wednesday, 20 December 17
INDONESIAN HBA FELL FOR THE FIRST TIME IN SIX MONTHS, GOVERNMENT DATA SHOWS
COALspot.com: HBA fell 0.80 per cent in December, marking the first fall for the Indonesian Coal Price Reference ( HBA) since June 2017, the latest ...
Monday, 18 December 17
U.S. COAL EXPORTS FOR THE FIRST THREE QUARTERS OF 2017 WERE 69 MMST; UP 68% M/M - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million sho ...
Thursday, 14 December 17
SUPRAMAX: INDO COAL TO CHINA AROUND LOW $10K DELIVERY SINGAPORE
Supramax
Atlantic basin kept its firm pace with charters still busy with covering pre-holiday requirements. Ultras got close to $20k for ordinary ...
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Showing 1846 to 1850 news of total 6871 |
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- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Economic Council, Georgia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
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