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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, 14 June 17
WORLD COAL PRODUCTION FELL BY 6.2%, THE LARGEST ANNUAL DECLINE ON RECORD - BP
COALspot.com: The 2017 edition of the BP Statistical Review of World Energy, shows global energy markets continuing to undergo long-term changes as ...
Wednesday, 14 June 17
HANDYSIZES AND PANAMAXES ENJOY THE TIGHTEST SUPPLY - PANOS TSILINGIRIS
The dry and the tanker shipping segments have dissimilar exposure to supply-driven opportunity (or risk). While the vintage (i.e., over 15 years ol ...
Tuesday, 13 June 17
THE TANKER FREIGHT MARKET IS STILL UNDER PRESSURE - GEORGE LAZARIDIS
News of U.S. inventory decline has hit the market by surprise with prices of the commodity showing some quick revival as OPEC continues to push wit ...
Monday, 12 June 17
THE BALTIC DRY INDEX TOOK A POSITIVE STEP
COALspot.com: The Freight market incline this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positive trend week ...
Friday, 09 June 17
U.S WEEKLY COAL OUTPUT WAS FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
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Showing 2026 to 2030 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
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