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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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Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the p ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
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- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Sical Logistics Limited - India
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