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