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Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the country’s diminishing demand for bulk commodities like iron ore and most importantly coal, which has shown the biggest declines, in terms of imports. As such, any adjustment in the country’s fiscal policy is noted with interest, as it can offer a template for one to try to determine future demand.
According to the latest weekly report from shipbroker Allied Shipbroking, “much has been said these past days regarding China’s recently announced fresh stimulus program, with many hoping this should be sufficient to generate the economic boost that’s been much needed this past year. With the announcement from the Central bank on Monday markets started to rally while many out the started to hold expectations that more is under way. Yet will this be enough to boost the fundamentals in the Chinese economy that typically drive dry bulk demand and is it enough to sustain enough upward market momentum?
Allied’s George Lazaridis, Head of Market Research & Asset Valuations said that “the structure of this recent plan is unlikely typical stimulus plans conducted by the central Chinese government in the past, while in its essence it shares more in common with typical quantitative easing schemes undertaken by most of the OECD countries. The bare bone breakdown of the plan is for China’s central bank to expand its pilot program in which it tries to boost bank’s lending abilities. This is set to be done through the allowance of banks to use up a variety of the assets (including bank loans) as collateral to secure the borrowing of funds from the central bank. Up to now the program is currently running in Shandong and Guangdong, while the current plan is to expand it over to nine provinces including Shanghai and Beijing. Although in its current form it is mainly directed in boosting and providing support for small and medium-sized companies, it is unlikely to provide anything close to the effect that was generated during stimulus plans of the past that were primarily used for infrastructure projects, nor is its size likely to be anywhere close to the 4-trillion-yuan stimulus packages. What’s more is that it’s become more and more clear that the central government is unlikely to return back to the old style of stimulus, while it will likely continue to focus on more specialised and directed measures”, Lazaridis noted.
He also wondered why is this however likely to miss in its most part the dry bulk market? According to the analyst, “the main difference here is the plan’s current direction, while even indirectly through the easing of liquidity we are unlikely to see strong interest generated for the traditional heavy industries which are already facing overcapacity problems. Therefore expectations are for limited if any re-investment in construction, real estate or even heavy industry, while the economic shift towards a more consumer based economy and less so export oriented, will inevitably push funds towards things like agriculture, retail and in general services. This should not be taken as such a bad thing, as with the economy widening its production base and boosting the wealth of its consumers and allowing for a continual growth in its workforce it is able to generate significant levels of demand that will not only be able to more quickly absorb any overcapacity issues in the heavy industries, but will also be able to provide the demand that could inevitably allow for other developing countries to eventually generate their own export oriented growth models through Chinese demand for imports. The problem with this is that in its current form we are talking about a very slow process”.
He went on to note that “as such and in conclusion to what we expect to see from the most recent stimulus package, it looks as though it’s wise to hold a cautious view. We have not seen any significant evidence of a turnaround in China just yet and although the recent manufacturing data showed a slight improvement, exports are still expected to remain in decline from a year ago. What we expect to be a positive outcome is hopefully in sentiment and renewed confidence in the central government itself”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping New
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Thursday, 05 November 15
Q2'16 INDO THERMAL COAL SWAP CONTRACT FOB INDONESIA FALLS TO $39.90/T
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week. Price of coal seen no improvements this past we ...
Thursday, 05 November 15
INFORMATION EXCHANGE GROUP'S LATAM MINING SECURITY SUMMIT 2016 - INTERNATIONAL CONFERENCE ON TECHNOLOGY SECURITY IN MINING
Press Release: LATAM Mining Security Summit 2016 is a carefully designed event that will bring together the leading stakeholders in the mining sect ...
Wednesday, 04 November 15
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
Four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies con ...
Wednesday, 04 November 15
FOB RICHARDS BAY COAL SWAPS GAIN W-W AND M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and month over month.
The Q4 swap was up US$ 1.4 ...
Tuesday, 03 November 15
THE DISCHARGE OF CARGO IN THE PRC WITHOUT ORIGINAL BILLS OF LADING - CLYDE&CO
KNOWLEDGE TO ELEVATE
On occasions, a vessel may arrive at a port and be ready to discharge but the original bills of lading in respect of the ...
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- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
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