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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, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
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, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
Thursday, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
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Showing 2226 to 2230 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Australian Coal Association
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
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