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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, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
Tuesday, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
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Showing 1926 to 1930 news of total 6871 |
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- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Minerals Council of Australia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Romanian Commodities Exchange
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