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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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Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- The University of Queensland
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
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