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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, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
Tuesday, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
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- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Australian Coal Association
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- The University of Queensland
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
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