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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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Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
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- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- The University of Queensland
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Australian Coal Association
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
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