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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 leave behind q1, evidence suggests that there are increasing chances that this is not going to be the case, with projections for global growth once again being revised downwards.
The latest estimate by the International Monetary Fund in April projects a modest 3.2% global growth for this year, 0.2% down from the January projection and just 0.1% higher that the estimated global growth for 2015. Once again the biggest part of this year’s world growth will come from the emerging economies, although they are not expected to grow at a much faster pace than they did in the year before with the economic slowdown in China and the weak growth both in oil and non-oil commodity exporters having their effect on the final projection estimates.
Moreover, the presence of several additional risks like further incidents of financial turbulence or a larger than anticipated adverse effect of lower oil prices on oil exporting countries and various other geopolitical risks including a possible Brexit, increase uncertainty over future economic developments and may lead to the realization of even weaker growth scenarios before the world economy picks up at a projected 3.5% growth in 2017.
With regards to global trade, which is of prime importance to the shipping industry, the latest evidence provided by the OECD suggests that its growth rate for 2016 will be weak along the projections for global growth. Overall things in the global economy draw a not very promising picture for the Dry Bulk sector in 2016 and despite the fact that during the last couple weeks we have moved away from the historically low levels we witnessed during the last part of 2105 and the first months of this year, things in the sector remain shaky as falling demand and weak growth prospects occur on the back of excess tonnage supply.
Given that things continue to steadily improve, 2017 is expected to be a much better year for the sector and the shipping industry overall. Saying that, we should all be patient and cautious as we have just left q1 and three more quarters are on their way before this year concludes.
By Vassilis Logothetis
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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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 ...
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, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
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