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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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Tuesday, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
Tuesday, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
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Showing 1891 to 1895 news of total 6871 |
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- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
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