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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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Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
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- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
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