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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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Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
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- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Minerals Council of Australia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
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