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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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Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
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- Energy Link Ltd, New Zealand
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
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