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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, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- MS Steel International - UAE
- Australian Coal Association
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- White Energy Company Limited
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
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