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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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Wednesday, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Wednesday, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
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- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
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