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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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Monday, 19 September 16
AFTER YEARS OF COMA, COAL BECOMES THE MOST ATTRACTIVE COMMODITY RIGHT NOW
COALspot.com: China boosted coal imports in recent months. The Chinese government’s drive to cut over capacity pushed up the demand for therm ...
Monday, 19 September 16
THE CAPE INDEX WAS UP 7.28% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined and ending in a slightly negative note this past ...
Friday, 16 September 16
GLOBAL SHIPBUILDING: THE CHALLENGE TO REMAIN 'ACTIVE' - CHRISTOPHER PEARCE, CLARKSONS
The number of ‘active’ shipyards globally has more than halved since the start of 2009, falling to around 400 shipyards at the start of ...
Friday, 16 September 16
U.S. WEEKLY COAL OUTPUT DECLINED 6.2% TO 15.1 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.1 million short ton ...
Thursday, 15 September 16
INDONESIA MAY FACE A COAL CRISIS BY 2035!
COALspot.com: Indonesia is the world’s fourth-largest coal producer and the world’s largest thermal coal exporter may face a coal crisi ...
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- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
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- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
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