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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, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
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Showing 2081 to 2085 news of total 6871 |
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- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
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