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