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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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Tuesday, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
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- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
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