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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, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
Tuesday, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
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Showing 1926 to 1930 news of total 6871 |
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- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- The University of Queensland
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- White Energy Company Limited
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
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