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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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- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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