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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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Thursday, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- VISA Power Limited - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- The University of Queensland
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
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