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