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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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Wednesday, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- The University of Queensland
- White Energy Company Limited
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
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