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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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Sunday, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
COALspot.com: The low vessel demand across nearly all vessel sizes pushed the Baltic Exchange’s main sea freight index further down in this F ...
Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance ...
Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
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- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Australian Coal Association
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
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