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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, 03 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
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- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- White Energy Company Limited
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
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