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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, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
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- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
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