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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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Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
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- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- ICICI Bank Limited - India
- The University of Queensland
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