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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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Wednesday, 22 November 17
THERMAL COAL WAS FLAT AMID CONCERNS OF FURTHER GOVERNMENT INTERVENTION IN CHINA, SAYS DANIEL HYNES
Coal prices were mixed. Thermal coal was flat amid concerns of further government intervention in China, said Daniel Hynes Senior Commodity Strateg ...
Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
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Showing 1871 to 1875 news of total 6871 |
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- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- VISA Power Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
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