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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, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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Showing 2086 to 2090 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
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