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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 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
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- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
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