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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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Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
Monday, 14 November 16
KOMIPO'S SEOCHEON POWER PLANT TO IMPORT 240,000 MT OF SEMI / ANTHRACITE COAL FOR Q1'17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 240K mt of Semi-Anthracite and Anthracite Coal f ...
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Showing 2211 to 2215 news of total 6871 |
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- Orica Mining Services - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
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