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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, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
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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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
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