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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 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
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- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
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