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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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Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
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- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- MS Steel International - UAE
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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