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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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Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
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- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- MS Steel International - UAE
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