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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, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
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Showing 2216 to 2220 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
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