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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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Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
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- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
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