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Wednesday, 07 December 16
IT'S BEEN YET ANOTHER TURBULENT COUPLE OF DAYS..... - GEORGE LAZARIDIS
 It’s been yet another turbulent couple of days, with a significant number of news headlines shaking up markets.
On Friday we had the OPEC agreement coming to light, with all members and Russia agreeing to cut down production outputs. This has had a fairly imminent impact with Brent crude oil rising to above US$ 55 a barrel earlier today, the highest level it has reached in over 16 months, says George Lazaridis Head of Market Research & Asset Valuations of Allied in his latest weekly report.
George Lazaridis further says, despite the fact that there is still considerable debate as to how the price will trend moving forward, with some estimates reaching as high as US$60 and US$70 a barrel. There is however some skepticism in reference to the effectiveness of this current agreement. There are a number of major non-member producers which could threaten the effectiveness of this deal, while there is even a threat from within OPEC itself. The last time that a quote was set, members exceeded their individual quotes for 20 out of the 24 months before the quote being eventually scrapped at the end of 2015.
Allied Shipbroking’s weekly report further noted that it wasn’t all about oil this week, with the Referendum in Italy on Sunday taking main stage and threatening stability with in Europe and the Euro are a once again. After losing the Referendum, Italy ’s Prime Minister, Matteo Renzi, is now anticipated to offer his resignation to the President Sergio Mattarella, who in turn will have to weigh the options and see how well balanced the governing party is to support another prime minister while seeking to avoid the option of early elections taking place. This was initially a major hit on the Euro, with early hours trading on Monday seeing a considerable drop. Things however took a quick shift as markets started to re-question the significance this could have on the market, while it also seems as though markets had already priced in the outcome of the referendum several weeks in advance seeing that the “No ” vote was ahead in most pre-voting polls.
According to George Lazaridis, all these developments have only gone towards further strengthening the U.S. Dollar which now seems to be become a threat in itself for most of the emerging markets. Major markets such as Europe and Japan cheer on for a stronger dollar, which has the benefit of allowing them to improve their trading terms while also helping keep pressure on inflation. Things are very different for most emerging markets however which will have to battle out with their dollar denominated debt held by both governments and companies, while there are concerns that a stronger dollar will also create a shortage of credit for these markets. The fear is that the overall net effect could be a dampener on trade , though this is disputable as in a state were the OECD economies start to generate higher economic growth figures they could also produce the consumption needed to drive trade and growth for emerging markets and help them counter any negative offset produced in the short -run by a stronger dollar.
As for shipping, the effects are also mixed. On the one-hand you have worries as to how trade could be effected by both the strengthening of the price of crude oil and the stronger U.S. Dollar, though this is nothing new for us given that we have been in a “limbo ” state of uncertainty for several years now. The most imminent effect will likely be on asset prices, with several ship owners with debt denominated in currencies other the U.S. dollars (e.g. Japanese owners) likely to look more favourably on any sale option as the U.S. dollar strengthens. This however could have an unintended consequence, with a bigger selection of high specification units driving the buying frenzy further in markets such as that of dry bulkers, George Lazaridis concluded.
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Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- India Bulls Power Limited - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Planning Commission, India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Australian Coal Association
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
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