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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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Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- White Energy Company Limited
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Planning Commission, India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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