When I run the below query,
select timestamp '01-01-2017 00:00' log_time from dual
ORA-01847: day of month must be between 1 and last day of month.
If you are using ANSI timestamp literals, the value must be formatted in the ISO style yyyy-mm-dd hh24:mi:ss:
select timestamp '2017-01-01 00:00:00' log_time from dual;
Alternatively use Oracle's
to_timestamp() function if you want to keep that format:
select to_timestamp('01-01-2017 00:00', 'dd-mm-yyyy hh24:mi') log_time from dual