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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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Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
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- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- The University of Queensland
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- White Energy Company Limited
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
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