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Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
 OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we moved closer to the day of the meeting its seems that the oil bulls were running rampant, driving prices for crude to levels that top just above the US$ 50 per barrel mark, said Allied ship broker in its latest weekly report.
According to Allied weekly report, the great paradox however was to be seen just moments after the much anticipated announcement of a cut in production, at which point we started to see prices are off slowly as many started to slowly voice concerns as to the impact this agreement would really have on the market and more specifically if it would actually be able to alter the oil imbalance now faced.
The Allied’s George Lazaridis further said, the truth of the matter is that we were seeing record production figures up until recently and an only 6 percent cut in OPEC ’s contribution does not sound like a lot being done, especially given the increased capacities expected to continue to be seen out of Iran and Libya. At the same time, this decision comes at a point where U.S. shale producers have started to greater vigour and have managed to push their output even at this year ’s low crude oil prices. What’s stopping them from increasing production further to the extent of covering any gap left behind by OPEC members.
Allied research further noted that, all this has at the moment left few convinced that there will be a real turnaround in the market over the coming months. It is no surprise therefore that we hearing officials from Russia saying that they plan to stick to a budget that assumes oil averages at a price of around US$ 40 a barrel. That also seems to be the consensus amongst most major investment banks which see the commodity struggling to hold firmly at prices above that level for long periods of time. On top of all of this many even see the agreement amongst OPEC members as little more than “hot air”, voicing concerns as to its effectiveness given the fact that as an organization it has often failed to meet targets, especially those that related to curbing production output.
George Lazaridis , Head of Market Research & Asset Valuations of Allied says, it seems as though the “cat has been let out of the bag ” and it’s proving an ever more difficult case to get it back in. It has been more than 22 months since the original decision to fully open the production taps and producing nations have already shifted in some way or another in order to face the new reality this has brought along with it. It has also shown how the Saudis have under estimated the resilience of the high prices producers (and in particular that o f U.S. shale oil ) having managed to price cut out of the market only a small fraction. Let’s not forget that the main purpose of their original strategy was to gain market share and eliminate some of the competition in order to end up with bigger control over the market. The only production projects that have truly bee n hit by the drop in price s has been the deep water offshore projects, most o f which found the new price reality unbearable.
There is still a lot at play here, but for now, it looks as though we are still set to remain hovering around these most recent price levels for the medium term. For most in shipping this can be seen as good news, helping keep bunker costs on the lower end of the spectrum and all owing a healthier demand level for the transportation of crude oil for the large tanker. There are however some, notably those with the more modern eco-ships which would have hoped for slightly higher increases in oil prices, something that would surely help to make these more economical ships more competitive in the market and possibly even create a greater push for older vessels to be scrapped sooner rather than later said Allied a Piraeus based ship broker.
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Monday, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
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- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- ICICI Bank Limited - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Planning Commission, India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
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