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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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Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
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- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
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