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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, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
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- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- The University of Queensland
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
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