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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, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
Tuesday, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
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- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Indonesian Coal Mining Association
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
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