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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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Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
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