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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, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
Tuesday, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
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- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
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