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Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market is unable to hold its ground and keeps scraping the bottom of the barrel time and time again. Meanwhile, apart from the inherent imbalance between demand and supply in the dry bulk market, shipping can’t seem to be able to benefit from any macro economical factor as well. As Allied Shipbroking pointed out in its latest report, major economies globally show signs of stuttering growth and troubling signs as to the course they will take over the coming year. “If that wasn’t enough, further geopolitical troubles are surfacing here and there, leaving little to be optimistic about”.
According to Allied’s Head of Market Research & Asset Valuations, Mr. George Lazaridis, “this week we witnessed further sorrows come out of China as it posted its tenth consecutive month of shrinking manufacturing data. This was enough to spook investors further, pushing as such for another major drop of 7% in the Chinese stock exchange last week and activating a halt in all share trading. With further bad news compounding as both the U.S. and U.K. also posted a softer end to 2015, it wasn’t long before a series of major stock market drops was noted, with the FTSE 100 noting a drop of 2.6% which is its second worst New Year opening on record (worst opening was recorded in 2000 with a drop of 3.8%)”.
He went on to mention that “at the same time, China’s government and state owned institutions will have to undertake an equity buying scheme to prop up the stock market and sell dollars from their foreign-exchange reserve in order to stabilize and support the Yuan. This will come at a great cost and likely will not be sustainable, especially when considering that it cost China around US$ 300 billion of foreign-exchange reserves during the past 6 months to stabilize the Yuan. What’s worse is that such measures will only further weaken China’s demand for imports and could possibly trigger a global currency war, causing a further weakening in global trade and leaving shipping markets in an even worse state then what was witnessed in 2015”.
As though this wasn’t enough, “troubles in the Middle East continued to intensify as diplomatic relations between Saudi Arabia and Iran came to an abrupt halt, leaving little hope of the ongoing issues in the region to be dealt with. It’s not without cause there-fore that the BDI took on a drop of 49 points from its last closing in 2015”.
Lazaridis noted that “it isn’t a great start to the year, but it might just be the nudge needed in the market to balance things once again. A careful rebalancing act has to take place in order to reset the market and reverse all the extravagances made in the past. China will have to find a better foothold and restructure its macroeconomic policies in order to properly pro up its economic growth, while the current turmoil allows for the next wave of devel-oping nations to find room to grow and take on their “economic catch up phase”. As an example of this, India is expected to note the highest economic growth this year amongst the largest world economies. Economies such as that of Brazil, which for years have been feeding their growth model primarily on the raw commodities they export will be forced to restructure and move onto more long-term sustainable growth patterns focused on “added-value”, he said.
Meanwhile, more so then anywhere else however, it is the shipping markets and particularly that of dry bulkers which will see a year of market correcting mechanism take hold. Scrap-ping will likely continue on its fast pace, pushing out excess tonnage from the market, while the lack in interest for investments in newbuilding orders will not only contain the fleet growth moving forward but will also likely cap in absolute terms the global shipbuilding capacity and prevent excessive ordering in the future as well. All this is a slow and painful process, but most of us hold hopeful that 2016 will bring about the underlining fundamentals needed to feed the next market boom”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 07 January 16
FOB NEWCASTLE COAL SWAPS DELIVERY Q1'16 REMAIN FLAT W-O-W; UP M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.23 per ton (3.35%) this past week compared to the sam ...
Thursday, 07 January 16
SHIPPING WILL REMAIN VOLATILE AND INDISPENSABLE IN 2016 - MOORE STEPHENS
The ultimate definition of an optimist has been characterised as an accordion player with an answerphone. Such extreme optimism might be difficult ...
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December ...
Tuesday, 05 January 16
BIG COAL MINERS PLAN HIGHER PRODUCTION THIS YEAR - THE JAKARTA POST
The country’s major coal miners plan to further boost production in 2016 although analysts estimate that an oversupply in the world’s c ...
Tuesday, 05 January 16
THE SHIPPING MARKET IN 2015 AND LOOKING FORWARD - BIMCO
Global economy: menacing clouds in the sky cast a shadow on global economic developments 2015 never really took off, even though the global economi ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
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