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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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Tuesday, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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Showing 2206 to 2210 news of total 6871 |
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- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- ICICI Bank Limited - India
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