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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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Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
Friday, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
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- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Planning Commission, India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
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