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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, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
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- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- ASAPP Information Group - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
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