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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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Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
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- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
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