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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, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
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- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- VISA Power Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
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