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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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Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Makarim & Taira - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
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- Goldman Sachs - Singapore
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- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
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- Ministry of Mines - Canada
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- Kepco SPC Power Corporation, Philippines
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- AsiaOL BioFuels Corp., Philippines
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- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
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- White Energy Company Limited
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- Petrochimia International Co. Ltd.- Taiwan
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- Semirara Mining Corp, Philippines
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- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
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- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
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- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
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- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
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- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
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- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
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- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
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- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
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- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
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- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- The University of Queensland
- Australian Commodity Traders Exchange
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