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Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given that the world’s second largest economy is still growing at a more than respectable pace. However, issues inherent with the dry bulk industry itself, like for instance the tonnage oversupply, have led freight rates to record setting lows over the course of the past few months. So, as we leave the Chinese year of the Wooden Sheep and enter the year of the Fire Monkey, hope is again on the horizon for a turnaround, sooner, rather than later.
According to Allied Shipbroking’s latest weekly report, “the Chinese economy has gone through a bumpy road these last 12 months, with the Dry Bulk market closely following in suit and suffering as a consequence. China has been the driving force behind much of the global growth noted during the 2000’s, with its fast paced infrastructure development and it’s ever in-creasing production lines, making it seem like a mammoth panda with a never ending appetite for commodities”.
According to Mr. George Lazaridis, Head of Market Research & Asset Valuations, “somewhere within 2015, this illusion disintegrated in the minds of many in the ship-ping industry as they witnessed a sudden drop in the growth of shipments and a col-lapse in the freight market. At the same time, China was showing a decrease in its GDP growth rate while also noting consecutive months of decreasing manufacturing data and a sudden halt and crash in its stock market. The shock waves quickly reverberated across the world, pulling down the price of commodities further and hitting the bottom line of many countries which used their vast exports of these commodities to China in order to feed their own prosperity”.
Lazaridis added that “with all this well and said, many now feel as if there is no escape from this never ending downward spiral. China, despite all the growth and wealth that has been generated over the past 15 years, still holds a fairly low GDP per capita compared to OECD countries. Combining this with the fact that it has only just started to undertake the transformation (moving from a cheap manufacturing location to an economy supported by innovation, technological development and highly skilled services) and you see that there is still plenty of room for further economic growth”.
Allied’s analyst also noted that “having witnessed similar economic shifts in countries such as Japan and S. Korea in the past, this transitional phase is fairly tricky to accomplish and key in keeping the growth momentum generated during the export -oriented growth phase on track. If and when this next phase succeeds, it will be creating a vast “army” of higher income consumers, which in turn will be able to support another round of global economic growth in the way consumers in the U.S. and Europe did during the 2000’s. This of course is in theory, as it is highly dependent on several market aspects. For example, when talking about the economic drive of the 2000’s for example, it is important to note that these U.S. and European consumers managed their ever increasing consumption on masses amount of cheap debt”.
He concluded by saying that “for the moment however, Chinese consumers have focused the majority of their spending on locally produced goods and services, as such only feeding China’s internal economy and insufficiently as it seems, as the decreasing growth in exports means that it is quickly having to really more and more on its own consumers which are not there yet to cover the gap left behind. Taking into account the “monkey” business that has been taking place in cases that have surfaced both in relation to the stock market as well as giant “Ponzi” schemes and you can tell that the Chinese economy is not only still in its infancy compared to a “developed” economy but it is also making the same mistakes as those done by the current “developed” economies. All concluding, the year of the Fire Monkey will be a year of transitions and it is to how successful these transitions will turn out to be that will dictate the next course of global trade. Till then wishing all our friends in the Far East, Gong Xi Fa Cai”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
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- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
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- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
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- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Australian Coal Association
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- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
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- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
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- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
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- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
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- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
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- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Parliament of New Zealand
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- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
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