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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 February 17
U.S. COAL OUTPUT IS ESTIMATED TO HAVE DECLINED BY 158 MMST IN 2016 TO 739 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Wednesday, 08 February 17
MARKET INSIGHT - PANOS MAKRINOS
The challenges the oil market has witnessed since the end of 2014 has resulted in a crisis for the global offshore oil and gas exploration industry ...
Tuesday, 07 February 17
WE ARE STILL RIDING ON A WAVE OF MARKET IMPROVEMENT, WITH THE GLOBAL TRADE OF MOST COMMODITIES STILL SHOWING SIGNS OF IMPROVING GROWTH - GEORGE LAZARIDIS
The end of 2016 came with a rejuvenated sentiment amongst most traders and investors, in part through the sigh of relief that 2016 was finally comi ...
Monday, 06 February 17
AFTER MONTHS OF GAINS, THE INDONESIAN GOVERNMENT DECLARED MONTHLY COAL BENCHMARK PRICE IS STEADILY DROPPING
COALspot.com: Over the past two months, the HBA of Indonesian thermal coal has dropped around 18.06 percent. It sank to $ 83.32 per ton for Februar ...
Monday, 06 February 17
THE FREIGHT MARKET CONTINUED ITS DOWNFALL IN ALL SEGMENTS
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was declined in all segments week ending 27 January. The fall was cont ...
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- Posco Energy - South Korea
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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