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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, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Wednesday, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
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- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- White Energy Company Limited
- CNBM International Corporation - China
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
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