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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, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Monday, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
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- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- PTC India Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
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