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