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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, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
Thursday, 12 October 17
THERMAL COAL PRICES IN EUROPE AND ASIA PUSHING HIGHER - DANIEL HYNES
Coal markets took the lead from the oil market, with thermal coal prices in Europe and Asia pushing higher says Daniel Hynes,Senior Commodity Strat ...
Wednesday, 11 October 17
2020 DEBATE AT IBIA'S LISW EVENT: COMPLIANCE & ENFORCEMENT – IT'S COMPLICATED : IBIA
There is no doubt about the start date for the 0.50% marine fuel sulphur limit in MARPOL Annex VI, but questions remain around how it will be enfor ...
Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over a ...
Tuesday, 10 October 17
DELIVERY OF CARGO WITHOUT ORIGINAL BILLS OF LADING - UK P&I CLUB
KNOWLEDGE TO ELEVATE
- It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-produ ...
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Showing 1916 to 1920 news of total 6871 |
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
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