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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, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
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