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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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Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
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- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
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