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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, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
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 ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
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- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bhatia International Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Australian Coal Association
- GMR Energy Limited - India
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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