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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, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
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 ...
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- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
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