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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
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