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Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
 After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only a day after the journey of our National football team reached its own end at the World Cup.
Last week was a bit more upbeat following the visit of China’s Premier, Mr. Li Keqiang, as the two nations signed shipping, trade and energy deals worth close to $4bn.
China Exim Bank raised its Greek shipping portfolio to $1.3bn and is pacing itself for increasing its exposure in the world’s largest shipping market. It finally seems that Chinese lenders cannot ignore the fact that Greek-owned ships carry 60 per cent of oil, iron ore, coal and other commodities imported by China. ICBC and CDB managed to also raise eyebrows during the same week; especially the latter and its mammoth loan agreement with Costamare for $1.5bn against the owner’s new building program at Chinese shipyards. After all, Greek owners are the biggest customers of Chinese shipyards with almost 200 vessels on order, which means that alignment of interests between the two economies is needed now more than ever.
Although these steps are sporadic and do not necessarily solve the problem of the finance gap that the shipping market faces these days, they are definitely steps in the right direction for –potentially- one of the world’s largest shipping lenders in the years to come. The know-how and track record being built up is immensely significant for establishing confidence in the “name lending” particularities of shipping finance.
Undeniably, Chinese lenders are undergoing a phase of intense restructuring during the past 12 months and the ripple effects are obvious in the shipping industry –including but not limited to the- difficulty that shipyards have in obtaining both refund guarantees and construction loans for several projects. Whilst still trying to create a sustainable framework through small steps rather than a large-scale stimulus, the Chinese Central Bank’s monetary easing over the past 2 months has been positively received by equity markets.
One move towards this direction was announced last week as policy makers committed to increase the number of lenders eligible for lower reserve requirement ratios (RRR). As the Chinese economy is entering a “quasi-deflation” mode, the Central bank is focusing on reducing finance cost in the long run by allowing more and more institutions to use RRR and interest rate adjustments in the short run. These moves, although primarily designed to help the ailing housing market and farming sector, speak volumes about the government’s intention to actively address the concerns of a “hard landing”.
With the freight market still at year lows, it is almost unavoidable to look towards China for glimpses of hope. Whether growth rates will be sustained at levels which will allow healthy trade volumes and subsequently raise freight rates, seems a bit premature to judge. One thing is certain though; all policies from the present Chinese government –even the deflationary ones- have so far been towards the right direction. Although the net result might not be enough to break open the bubbly just yet, we cannot ignore the fact that it is the first week in a long time that we saw some big names in dry cargo chartering slowly coming out of their shell for period charters…
Analysts:
Mr. George Lazaridis
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
...
Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
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- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Tata Chemicals Ltd - India
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