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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, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
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- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
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