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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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Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and prod ...
Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
Tuesday, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
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- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
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