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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, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
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Showing 1911 to 1915 news of total 6871 |
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- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- The University of Queensland
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
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