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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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Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
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- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
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- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
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- Wilmar Investment Holdings
- Ministry of Transport, Egypt
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- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Petron Corporation, Philippines
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- Videocon Industries ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
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- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
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- Alfred C Toepfer International GmbH - Germany
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- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
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- Sojitz Corporation - Japan
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- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
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- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
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- Energy Link Ltd, New Zealand
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- Singapore Mercantile Exchange
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- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
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- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
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- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
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- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Vizag Seaport Private Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
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- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
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- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
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- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
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- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- VISA Power Limited - India
- Grasim Industreis Ltd - India
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