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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, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
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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- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
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