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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 February 17
U.S. COAL OUTPUT IS ESTIMATED TO HAVE DECLINED BY 158 MMST IN 2016 TO 739 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Wednesday, 08 February 17
MARKET INSIGHT - PANOS MAKRINOS
The challenges the oil market has witnessed since the end of 2014 has resulted in a crisis for the global offshore oil and gas exploration industry ...
Tuesday, 07 February 17
WE ARE STILL RIDING ON A WAVE OF MARKET IMPROVEMENT, WITH THE GLOBAL TRADE OF MOST COMMODITIES STILL SHOWING SIGNS OF IMPROVING GROWTH - GEORGE LAZARIDIS
The end of 2016 came with a rejuvenated sentiment amongst most traders and investors, in part through the sigh of relief that 2016 was finally comi ...
Monday, 06 February 17
AFTER MONTHS OF GAINS, THE INDONESIAN GOVERNMENT DECLARED MONTHLY COAL BENCHMARK PRICE IS STEADILY DROPPING
COALspot.com: Over the past two months, the HBA of Indonesian thermal coal has dropped around 18.06 percent. It sank to $ 83.32 per ton for Februar ...
Monday, 06 February 17
THE FREIGHT MARKET CONTINUED ITS DOWNFALL IN ALL SEGMENTS
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was declined in all segments week ending 27 January. The fall was cont ...
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- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
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