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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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Tuesday, 08 September 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO SHOW DECLINING TREND
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Tuesday, 08 September 15
GANGAVARAM PORT IN INDIA DISCHARGES RECORD 112,599 MT OF STEAM COAL IN 24 HOURS
COALspot.com: Gangavaram Port, an all weather, multipurpose port with water depth up-to 21 meters, capable of handling fully laden Super Cap ...
Monday, 07 September 15
THE MINE OF THE FUTURE WILL HAVE ONLY TWO EMPLOYEES, A MAN AND A DOG - SCOTT MCGOWAN
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Scott Mcgowan, Director, Global ...
Monday, 07 September 15
FOB NEWCASTLE COAL SWAP FOR Q2' 16 DELIVERY CLOSED US CENTS 25 LOWER COMPARED TO Q4' 15
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.73 per MT (-1.68%) month over month to US$ 42.65 per mt. The sw ...
Monday, 07 September 15
CFR SOUTH CHINA COAL SWAPS ROSE 1.1 PER CENT WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.52 (3 %) per MT month over month.
A commodity sw ...
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Showing 2826 to 2830 news of total 6871 |
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- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
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