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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, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
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- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Economic Council, Georgia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
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