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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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Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
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- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
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