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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, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
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