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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, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
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- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
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