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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, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
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- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- White Energy Company Limited
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
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