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Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
 On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, which comes at a time that the realm faces a fall in energy revenues. Furthermore, last month the Kingdom reported the already premeditated economic reforms to decrease its reliance on oil and develop a long-term sustainable expansion, with arrangements for a monstrous $2 trillion fund to lift its worldwide investment power plan.
Particularly, the implementation of the named “Vision 2030” plan visualizes the country to operate without its major dependence on oil income by 2030. As announced, the plan encompasses the expansion of the realm’s tourism industry, developing the capacity of its military industries, reducing sponsorships to save money, generating job initiatives while restructuring its education system and establishing a Green Card-style residency system for Arabs.
Moreover, the setting up of the Public Investment fund of $2 trillion includes the $100bn that are expected to be raised from Saudi Aramco’s Initial Public Offering (the biggest IPO in history), with Prince Mohammed Bin Salman stating that the Saudi addiction to oil has disrupted the development of many sectors in previous years. As a result, the Kingdom aims to gain exposure to international markets and thus attract investments in all aspects of its economy with greater transparency.
Saudi Arabia’s new vision 2030, being ambitious and comprising of diversified policies reflects a long term initiative for economic progresses that have gained grounds from low oil prices and new-generation leadership. Gulf countries have been developing similar policies for years with Bahrain publishing its vision 2030 in 2008 and Abu Dhabi issuing one in 2009, both led by princes who wanted to associate themselves with economic transformation and collective consciousness. The April’s meeting and discussion of oil-rich countries in Doha for a production freeze in order to boost oil prices, led to no-agreement as Iran declared an increase on its output. Alongside, it was just about a year and a half ago that Ali-al-Naimi urged OPEC to maintain output, rather than reduce production and support oil prices. Effectively higher cost producers were squeezed, mainly shale oil drillers. Similarly, Saudi Arabia itself has suffered an incredible loss by foreign-exchange reserves dropping and economic growth slowing.
Inevitably, the above measures will likely lead to the most radical transformation of the kingdom since its establishment in 1932. The plan itself is the evidence of the seriousness with which the authorities are taking the effects of squeezed oil prices on the economy and consequently the socio-political impact that has shaped the state-society relations. The world’s energy map is being revamped as global growth slows down. Iran’s reintegration is shifting the regional strategic dynamics. Saudi Arabia, long familiar to being the leading player in the area, must adapt to these changes.
Consequently, the Kingdom’s strong presence in crude oil and oil product markets affects the demand for oil tankers, the world’s primary oil transportation. Therefore, “Vision 2030”, which aims at less dependence on petrodollar income and further diversified domestic and global investments, may be the result of possible pessimistic expectations about further oil-driven world growth and it could even be the signal for even lower oil prices in the future. What would be the effects on the notoriously volatile shipping industry? It remains to be seen.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
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- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
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