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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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Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
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Wednesday, 07 December 16
IT'S BEEN YET ANOTHER TURBULENT COUPLE OF DAYS..... - GEORGE LAZARIDIS
It’s been yet another turbulent couple of days, with a significant number of news headlines shaking up markets.
On Friday we had & ...
Monday, 05 December 16
INDIAN HYDROPOWER PRODUCTION AT LOWEST LEVEL SINCE 2012, SAYS COMMODORE RESEARCH
According to Commodore Research, the first eleven months of this year have seen India’s overall electricity production total approximately 1. ...
Monday, 05 December 16
THE DECEMBER 2016 HBA HITS TO ITS HIGHEST LEVEL SINCE MAY 2012
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2012. The government declared benchmark prices for Indo ...
Monday, 05 December 16
BALTIC PANAMAX INDEX UP 5.98%; BALTIC CAPE INDEX FELL 2.52% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally slightly continues this past week and ending on a s ...
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- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
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