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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, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
Friday, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
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- The Treasury - Australian Government
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Planning Commission, India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
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