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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, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
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