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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, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
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Showing 1856 to 1860 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
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