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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, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
Monday, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
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- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
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