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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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- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
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