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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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Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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Showing 2086 to 2090 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Parliament of New Zealand
- London Commodity Brokers - England
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
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