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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, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
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Showing 1911 to 1915 news of total 6871 |
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- White Energy Company Limited
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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