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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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Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
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Showing 2516 to 2520 news of total 6871 |
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- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- The University of Queensland
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
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