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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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Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
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 mo ...
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
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- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
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