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