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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, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
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- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
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