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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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Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
Monday, 14 November 16
KOMIPO'S SEOCHEON POWER PLANT TO IMPORT 240,000 MT OF SEMI / ANTHRACITE COAL FOR Q1'17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 240K mt of Semi-Anthracite and Anthracite Coal f ...
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Showing 2211 to 2215 news of total 6871 |
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- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Posco Energy - South Korea
- MS Steel International - UAE
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- White Energy Company Limited
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
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