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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, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
Monday, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
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, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
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Showing 2226 to 2230 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
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