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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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Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
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- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
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