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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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Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
Friday, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
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- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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