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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, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
Wednesday, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
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- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- The University of Queensland
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
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