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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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Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Anglo American - United Kingdom
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- The University of Queensland
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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