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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, 14 November 16
KOMIPO'S SEOCHEON POWER PLANT TO IMPORT 240,000 MT OF SEMI / ANTHRACITE COAL FOR Q1'17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 240K mt of Semi-Anthracite and Anthracite Coal f ...
Monday, 14 November 16
DUNIA MAKMUR SUBSIDIARY BAGS MINING SERVICE CONTRACT WORTH $ 282.63 MILLION
PT Bukit Makmur Mandiri Utama (BUMA), has signed a life of mine contract with PT Tadjahan Antang Mineral (TAM) with a contract value of approximate ...
Monday, 14 November 16
THE CAPE INDEX ROSE 44.57 PER CENTS TO 2303 POINT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 11 November 16
INDONESIAN 4200 GAR COAL IS THE MOST ATTRACTIVE COAL IN TODAY'S MARKET - OPINION POLL
“ Which coal type of Indonesian origin do you find the most attractive in today's market?”
The on-line opinion poll conducted ...
Friday, 11 November 16
WEEKLY U.S. COAL OUTPUT FELL SLIGHTLY W/E NOVEMBER 5
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.9 million short ton ...
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Showing 2216 to 2220 news of total 6871 |
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- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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