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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, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
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- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
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