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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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Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
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- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Kideco Jaya Agung - Indonesia
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