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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, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
Monday, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
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- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
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