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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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Tuesday, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
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- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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