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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, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
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- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
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