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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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Thursday, 24 March 16
NEWBUILDINGS' PRICES HAVE STARTED TO COME DOWN - ALLIED | HELLENIC SHIPPING NEWS
Newbuildings’ prices have started to come down, as demand has remained subdued for quite some time now. In its latest weekly report, shipbrok ...
Wednesday, 23 March 16
THE PANAMA CANAL - WILL THE MELTING OF POLAR ICE CAPS CREATE RIVAL NAVIGATIONAL WATERWAYS THROUGH THE ARCTIC? - INTERMODAL
The Panama Canal, 102 years after its initial opening, is now about to have its expansion completed with a cost of USD5.25 Billion. It is a project ...
Tuesday, 22 March 16
FOUR NEW MARKET MEMBERS HAVE JOINED GLOBALCOAL
globalCOAL® announced yesterday that four new Market Members have joined its international trading community.
Ferrocadia DMCC is an intern ...
Monday, 21 March 16
INDONESIAN 4200 GAR COAL INDEX ROSE $0.12 OR, 0.44% WEEK OVER WEEK; INDEX CLOASED AT $27.19 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.21 percent week over week to averaging $38.90 per ton on this past Friday, ac ...
Monday, 21 March 16
THE BALTIC DRY INDEX ROSE SLIGHTLY WEEK OVER WEEK; BCI UP 11.93%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued rose this week helped by higher rates for Cape ...
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Showing 2511 to 2515 news of total 6871 |
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- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
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