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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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Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
Wednesday, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
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- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bhatia International Limited - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
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