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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, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
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