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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
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