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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, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
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- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
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