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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, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
Monday, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
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- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Australian Coal Association
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
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