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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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Tuesday, 21 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
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- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
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