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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, 18 October 16
COAL PRICES KEPT CLIMBING
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, 18 October 16
PANAMAX: A FAIRLY POSITIVE END TO THE WEEK - ALLIED
Capesize
Things seemed to be moving sideways during the first half of the week, with resistance being felt as owners tried to resist any further ...
Monday, 17 October 16
THE FREIGHT MARKET WAS SOFTENED IN ALL SEGMENTS THIS PAST WEEK - VISTAAR
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 14 October 16
SUPRAMAXES: DELIVERY SINGAPORE ARE SETTLING AROUND HIGH 6K'S FOR COAL TRIPS TO CHINA VIA INDO - FEARNLEY
Supramax
Wait and see attitude prevailing all over the market.
There have been several fresh cargoes, which have been efficiently covered by ...
Friday, 14 October 16
U.S. SHIPPED 3.3 MMST COAL IN JULY 2016; DECLINE 40% M/M
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.6 million short ton ...
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- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
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