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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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- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
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