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