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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, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
Monday, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
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- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
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