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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, 09 January 17
FFA SUPRAMAX: Q1 AND Q2 TRADING UP TO $7100 WHILE CAL17 PRINTED $7250 - FIS
Capesize
Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appea ...
Monday, 09 January 17
COAL MARKETS WERE UNEXPECTEDLY ONE OF THE STRONGEST PERFORMERS OF 2016 - SGX
COALspot.com: Coal markets were unexpectedly one of the strongest performers of 2016, with domestic production restrictions in China as well as sup ...
Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze ...
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- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- VISA Power Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Australian Coal Association
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