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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, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
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- Kaltim Prima Coal - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
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