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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, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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Showing 2366 to 2370 news of total 6871 |
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- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
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