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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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Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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Showing 2221 to 2225 news of total 6871 |
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- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Indian Energy Exchange, India
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
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