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Tuesday, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
 We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace noted within to 2016. Given the glut in tonnage supply that has accumulated since 2011, the shipping industry has found it very difficult to find a stable foothold from where to keep itself in “normal operations” and with viable earnings, says George Lazaridis Head of Market Research of Allied Shipping.
George Lazaridis further said, what has made 2015 & 2016 so problematic is that the balance between demand and supply went further off course as trade growth almost came to an absolute halt. This growing concern had been in part expressed in the worries that were being voiced over the outcome of the U.S. elections, with many prominent economists and economic analyst in major organizations seeing a further deterioration of the situation as major countries around the world start to turn to more inward focused economic policies. Just one day after the results came out and we started to see a very different picture emerge in the markets, said George Lazaridis.
He further noted that the trade in most bulk commodities was instantly boosted, with freight rates in both the dry bulk and tanker markets for the majority of size groups shooting up considerably. At the same time, commodity prices were in for a major rally, with most prominent that of coal which even managed to peak at some point above US$ 100 per tonne. Things have quieted down considerably on all fronts since then and it looks as though we are heading towards some normality which is still at better levels than it was one month prior. Where did all this optimism come from however and does it have enough basis for it to match a more long-term trend?
George Lazaridis Head of Market Research & Asset Valuations of Allied Shipping further said this quick move seems to have been generated by a series of events that took place triggering a domino move that boosted things further and further, urging the speculators to further fuel the market. For one we had the basis of most of the pre-election talks by Mr. Trump that referred to a splurge of infrastructure spending in the U.S. during his presidency. Such a splurge would need to be adequately fed by bulk commodities such as steel, cement and other vital bulk commodities used in construction. As the market moved more bullish for these commodities and several traders went into stockpiling mode in order to be adequately stocked for the proposed boom in demand, the second wave of effects started to take hold.
According to George Lazaridis, a mass of investors had already started to flee out of several emerging markets (such as Mexico) and starting to head towards the commodities markets which had shows greater promise since the summer period. As they flocked they boosted prices ever further and with prices rising quick a surge was generated (essentially a mini bubble) as traders looked to move quick before prices got too hot. Similarly, traders in many economies which are heavy importers of these commodities where in an even bigger rush as the strengthening dollar amplified the price hike even more.
These price hikes in commodities, according to George Lazaridis, were to the main benefit of ship owners as the cost of freight became an ever more insignificant portion in the whole equation, taking second place to the speed with which a trader could book the cargo he was after.
This speculatively fueled rally has boosted the market significantly however it seems as though it has run its course for now. That’s not to say that an imminent collapse is now in sight. It looks as though trade might hold at much better levels for the remainder of the final quarter of 2016 than it did a year ago. As to how well it will cope in the first quarter however, is another story altogether,George Lazaridis concluded.
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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
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- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- White Energy Company Limited
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Marubeni Corporation - India
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Eastern Energy - Thailand
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