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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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Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
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- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Australian Coal Association
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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