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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, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
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- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
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