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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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Friday, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
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
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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- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- The University of Queensland
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
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