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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, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
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- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- GMR Energy Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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