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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, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
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- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Economic Council, Georgia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
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