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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, 09 January 17
FFA SUPRAMAX: Q1 AND Q2 TRADING UP TO $7100 WHILE CAL17 PRINTED $7250 - FIS
Capesize
Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appea ...
Monday, 09 January 17
COAL MARKETS WERE UNEXPECTEDLY ONE OF THE STRONGEST PERFORMERS OF 2016 - SGX
COALspot.com: Coal markets were unexpectedly one of the strongest performers of 2016, with domestic production restrictions in China as well as sup ...
Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze ...
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- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- White Energy Company Limited
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
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