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Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this week, that “the real direct impact which shipping might have to face from the FED’s decision to increase interest rates would be in terms of financing”.
According to Allied’s George Lazaridis, Head of Market Research and Asset Valuations, “with most loans being dollar denominated and the spreads on offer by banks already on the high end compared to what the industry has been offered over the past decade, it would likely make ship financing an even harder task for many to undertake. The lack in availability of finance has been a key characteristic of the market for well over 2-3 years now, and this would likely deteriorate things further. Nevertheless, such difficulties may prove to help in the long run, allowing for a tightening of new investments and especially in terms of further ordering. At the same time the higher financing cost will eventually be absorbed by freight rates as it will be a cost shared by the majority in the industry, while once the freight market finds its footing once more and starts to improve, this cost will start to play a more minor role once more. For the time being what one hopes for more is for a possible escape from the pessimism that has plagued the global markets over the past months, the possible negative side effects seem like small hurdles in comparison”, said Lazaridis.
Analyzing the current macroeconomic climate, Allied’s analyst said that “with the U.S. economy still managing to show fairly promising figures with regards to its trajectory, the Federal Reserve is inching closer to the decision to make its pivotal decision regarding an interest rate hike (something that could materialise as early as this week). Although, the fundamentals are a positive overall sign for shipping there are things to feed worries below the surface and on an indirect basis. The main focus and what helps support an optimistic view towards the current decision revolves around the fact that with the global economy lacking a strong source of economic growth, a positive outcome for the world’s largest economy can be taken as a very favourable move and one that could help drive the rest of the global growth engine as it once did in the past. With such a high consumer base and a strong source of indirect investment, its economy is highly placed to support growth elsewhere around the world”.
Lazaridis added that “yet as things are showing, neither is its current strong growth a given (with some shaky signs having been noted during end of spring early summer) nor is a decision to increase interest rates sure to spring further growth down the line. In regards to the latter, it will likely spur extra lending by banks which is going to drive both investment within the economy and allow for improved earnings from banks themselves. Yet it will also drive for an increase in the default rate of bad loans, as those who are already struggling to meet their debt obligations are likely going to find themselves sooner rather than later in default. This is the least of what this latest development could bring about, as the emerging economies will struggle to maintain the same amount of interest in attracting further investment, while their previous dollar denominated debt will become more expensive to pay off as the dollar strengthens against the borrowers’ local currencies”.
He went to say that “further to this end, corporate profits previously retained in many of these emerging economies by big multinationals will likely be repatriated back to the U.S. as local investment starts to become more favourable. Yet all this might end up as a more favourable outcome for shipping as an economy the size of the U.S. could allow once more for the export-led growth models than many of the emerging economies still focus on. As an example a fast pace increase in consumer spending in the U.S. could allow for increased exports out of both China and India which would in turn drive their economies into further production growth”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
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- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- White Energy Company Limited
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
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