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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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Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
Tuesday, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
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- Dalmia Cement Bharat India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
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