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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, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
Tuesday, 18 October 16
COAL PRICES KEPT CLIMBING
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 ...
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- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
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