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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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Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
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- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- The University of Queensland
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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