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Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher loss areas, due to the fact that they are faced with greater construction costs, as a result of the closing of the price gap between China and Japan. In its latest analysis, Intermodal, looks at the issue of inflation and its effect of ship prices around the world.
According to Mr. George Dermatis, "inflation is fast becoming our new friend... Up almost 9% for the year so far, the more than century-old blue-chip index, Dow Jones, posted last week its first finish above the record closing high of 14,164.53 set on Oct. 9th 2007, which is just ahead of the global financial meltdown.It is an undeniable fact that this new peak is reached primarily due to the extensive monetary stimuli that the Fed has provided over the past 4 years".
He added that "in Japan, the sun seems to be rising once again after decades of standing as a warning sign of what can go wrong when government debt reaches to extremely high levels. Yet enough though Japan's Nikkei 225 index stands at less than a third of its record high since 1989, the stock market has made big strides forward, climbing 35% since mid-November".
Meanwhile, in Europe, stocks rallied to their highest level in 4½ years, as investors cheered stronger-than-expected euro-zone retail sales and keyed off gains in U.S. equities. Dermatis noted that "Europe is standing at the opposite side of inflation argument, with austerity measures governing the southern countries and an almost deflationary outlook for the year ahead. Amidst heavy reforms on governance, fiscal policy and taxation amongst the country-members, the EU has managed to increase its competiveness; however pressures for monetary easing are expected to intensify as the voiced concerns in the Eurozone amplify. Let's not forget that it is the only major economy that has not resorted to this solution post-2008...Could this change soon?" he asks.
Finally, "China’s minimum wage has tripled since 2000, creating extra pressure via fast rising labour costs within China. This fact should however be looked at with greater scrunity, as the ageing population of China means a dropping supply of youth labour in the country. Environmental awareness pressures and restrictions on pollution from factories create another bottleneck in production and raise production costs across the board for Chinese manufacturing. Furthermore, the RMB is going from strength to strength and while nominal appreciation has been slower than critics in Brussels and Washington might like, real appreciation (adjusting for the country's relatively faster inflation rate) has been rapid. The Chinese currency has appreciated considerably in nominal terms as well, recording a median of about 22% against 13 Asian currencies over the past five years, as such negatively impacting the attractiveness of the country's exports. In order to combat this and drive the country's competitiveness, the only solution is through automation and higher sophistication in production, which in turn requires substantial support from the government in the form of financial aid, subsidies and access to finance (especially for the latter this column has been a regular and strong advocate of financial easing in all forms of production as an added incentive for local and/or foreign investors). These measures would mean increasing the money supply and in turn having to battle inflation once more, hopefully in a more effective way than last year's attempt to keep real estate prices and infrastructure spending under control", Intermodal's analyst noted.
So, as the factor of inflation seems to be fast-becoming ''a lesser of two devils'' for most major economies, what are the potential effects on shipping? "Secondhand prices and NB cost have seriously dropped over the past 4½ years. Current fleet profile, outstanding deliveries, market demand/supply factors all maintain their importance of course and have generated a dim outlook for the market ahead, but we cannot ignore the fact that all asset prices are subject to inflationery pressures as well. As the price gap between Japan and China is narrowing down, shipyards suffer greatly from rising construction costs and seem heavily reluctant to drop their price expectations to higher loss areas. Could this provide the necessary pillar for a reaction in prices? Could we finally be close to an artificial bottom?" the report concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
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Showing 4396 to 4400 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- The University of Queensland
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
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