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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, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
Coal Supply
EIA estimates that U.S. coal production declined by 158 million short tons (MMst) (18%) in 2016, to 739 MMst, which would be the lowe ...
Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
A new year has dawned upon us and it sure promises to be an exciting one which makes it practically impossible to resist the challenge of making a ...
Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
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- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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