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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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Friday, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
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- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Planning Commission, India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
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