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