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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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Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
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Showing 2211 to 2215 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- The University of Queensland
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