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Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, or at least China’s role in it will be diminished than the past few years. At least that’s what the latest news from China’s economy are indicating. In its latest report, shipbroker Allied Shipbroking noted that “strong volatility and a general shake up in the commodities markets has been the main description of this past week’s events and continuing on from last week’s article it is more and more evident that most traders in the market are fairly confused at the signs being given. Last week the commodities markets (especially in the case of most dry bulk commodities such as iron ore and coal) noted a firm hike in prices both in the futures and physical markets. This was largely driven by China’s National People’s Congress which discussed the proposed changes and targets it plans to put through for its next five year plan (pointing to the major role China still plays not only in the physical markets of these commodities but also in the minds of most investors worldwide)”.
Allied’s,George Lazaridis, Head of Market Research & Asset Valuations, noted that “speculation was rife, as some sought to take a more optimistic view as to what was coming out of China. Most of these traders might have been overeager to pull the trigger on their investment strategies, inpatient as to when the market would turn. However it seems as though they might have miscalculated the timing, having avoided to read some of the fine print from China’s next stimulus plan. As such we have started off the week with the biggest two-day slide in commodity prices, while in turn this has had knock off effects on global stocks and other financial instruments. At the same time the recent decision by the Bank of Japan to jump off the stimulus bandwagon hindered by the growing underlining risk of a negative interest-rate strategy has left further woes for the global economy. As such, much is left in question as to the true direction of global economic growth”, he mentioned.
Of course, Lazaridis continued, “in the physical market, the actual uptick in demand (and therefore in prices) of iron ore have been more reliant on supply, demand and inventories as always rather than mere expectations of financial markets. However, once you take a closer look, these are more near-term in nature. Namely low inventories and the prospects of a forced stoppage in the output of several still mills in China over the summer months, have pushed many to scramble for ore while trying to operate at full capacity in order to build stocks of metals so as to be ready to supply the seasonal pickup in construction in spring. This chain has more to do with seasonality then any political decision undertaken, however it does hold a small truth as to the state of the market. Expectations are that new real estate constructions are slowly going to pick up, based on the increasing level of home sales and higher prices. Home prices have risen by as much as 50% in some of China’s most popular cities over the past year, pointing to potential shortages in comparison to rising demand. The clarification here is that this trend is still held within a few key cities, while the excess backlog in real estate supply across the whole of China is still fairly big. At the same time there are some who fear that this is more of a bubble rather than an indicator as to the state of real demand. Efforts have been made by the central government to push demand for the housing markets outside the main five hottest markets, yet the results have been meagre so far”, Allied’s analyst stated.
In conclusion, “after the dissipation of the initial hype, the fog has cleared to the reality that little is clear as of yet as to the true effectiveness of China’s next growth stimulus. The dry bulk market may have bolstered slightly over the past week, but it’s too early to have been caused by any shift in fundamentals from anything decided in Beijing this past week”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- The University of Queensland
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Marubeni Corporation - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Economic Council, Georgia
- Ministry of Mines - Canada
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