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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, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
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- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
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