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Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with oversupply plaguing the sector, has witnessed earnings drop to histocical lows. As such, with China’s nnual economic growth rate slowing down to a six-year low of 7pct in the first quarter, while at the same time many believe that even this is not giving a true picture of the slowdown, pressure and concerns continue to mount as to the prospects of the market this year.
However, according to Mr. George Lazaridis, Head of Market Research & Asset Valuations with shipbroker Allied Shipbroking, “yet this seems to be only half the picture investors are looking at. At the same time as the Chinese economy starts to get to grips with this new reality, Narendra Modi, India’s Prime Minister has been making ground breaking progress to push India’s economy to the top podium position in terms of annual GDP growth. During the past week he has been meeting with Australia’s Prime Minister, Tony Abbott, to strike a compelling deal which would promote further trade in dry bulk commodities such as iron ore and coal. This deal comes at a point were India’s Economy is already expected to expand by more than China’s for the first time since 1999″.
According to Lazaridis, despite the above, “many in the industry remain unconvinced as to the extent that India could dethrone the current Champion amongst the BRIICS and take leading role in reinvigorating the global economy. The reality is, that in order to accomplish this India must do much more than just momentarily surpass China in terms of economic growth. India’s govern-ment is still plagued by corruption and bad organization, while a lack of central govern-ment planning in the style of China, makes it all the more difficult to properly direct development efforts and achieve the high goals needed to direct a complete restructur-ing and long term growth trajectory. Yet even without these it is proving to push for a significant role in trade which is likely to expand over the next couple of years and while it might not surpass the Chinese economy in this decade (or the next) it is starting to shape up and become a serious contender that could inevitably lead to yet another fast paced global commodities rally in order to feed its growth needs”, he noted.
According to Allied’s analyst, “at the same time much is to be said about the recent critics regarding China’s figures as well. It may well be certain that the current figures point to troubles ahead for the re-mainder of 2015, but looking deeper into what makes up these figures, you can note that economic growth has started to become more reliant on internal consumer spend-ing rather than just mere investment. This means that its economy is maturing, becom-ing more self-reliant rather than only export oriented and making it in turn more sus-tainable in the long-run”.
He went on to note that “at the same time the much anticipated switch from a cheap “copy-cat” producer over to a research and innovation producer means that it is start-ing to take the next step in its development cycle similar to what Japan and S. Korea had done back in the 80’s and 90’s. Nevertheless, the Chinese government does not seem to be willing to sit back, relax and rely on only this to keep its internal engine go-ing. Yesterday, China’s central bank announced that it has lowered the reserve-requirement ratio of banks by a further 1 percentage point, which according to esti-mates should free up around 194 billion U.S. dollars to boost lending further”.
Concluding his analysis, Lazaridis pointed out that “all these are positive signs, but they seem to be a more long-term effect with likely out-comes to be more evident to the shipping markets within 2016 rather than during the course of this year. Even so, what must be taken out of all of this is that the troubled pace isn’t looking likely to last too long”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
Tuesday, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from t ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
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- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Planning Commission, India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
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