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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, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
Monday, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
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Showing 2316 to 2320 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- PTC India Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Australian Coal Association
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
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