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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, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
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- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
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