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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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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- The University of Queensland
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
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