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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, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
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- AsiaOL BioFuels Corp., Philippines
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- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
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- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
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- Medco Energi Mining Internasional
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- Planning Commission, India
- The State Trading Corporation of India Ltd
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- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
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- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
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- Directorate General of MIneral and Coal - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Orica Australia Pty. Ltd.
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- The University of Queensland
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- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
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- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
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- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
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- Aditya Birla Group - India
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- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
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- Global Coal Blending Company Limited - Australia
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- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
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- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
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