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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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Tuesday, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
Monday, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
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- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Planning Commission, India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
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