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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, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
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- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- PTC India Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
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