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Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
 After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only a day after the journey of our National football team reached its own end at the World Cup.
Last week was a bit more upbeat following the visit of China’s Premier, Mr. Li Keqiang, as the two nations signed shipping, trade and energy deals worth close to $4bn.
China Exim Bank raised its Greek shipping portfolio to $1.3bn and is pacing itself for increasing its exposure in the world’s largest shipping market. It finally seems that Chinese lenders cannot ignore the fact that Greek-owned ships carry 60 per cent of oil, iron ore, coal and other commodities imported by China. ICBC and CDB managed to also raise eyebrows during the same week; especially the latter and its mammoth loan agreement with Costamare for $1.5bn against the owner’s new building program at Chinese shipyards. After all, Greek owners are the biggest customers of Chinese shipyards with almost 200 vessels on order, which means that alignment of interests between the two economies is needed now more than ever.
Although these steps are sporadic and do not necessarily solve the problem of the finance gap that the shipping market faces these days, they are definitely steps in the right direction for –potentially- one of the world’s largest shipping lenders in the years to come. The know-how and track record being built up is immensely significant for establishing confidence in the “name lending” particularities of shipping finance.
Undeniably, Chinese lenders are undergoing a phase of intense restructuring during the past 12 months and the ripple effects are obvious in the shipping industry –including but not limited to the- difficulty that shipyards have in obtaining both refund guarantees and construction loans for several projects. Whilst still trying to create a sustainable framework through small steps rather than a large-scale stimulus, the Chinese Central Bank’s monetary easing over the past 2 months has been positively received by equity markets.
One move towards this direction was announced last week as policy makers committed to increase the number of lenders eligible for lower reserve requirement ratios (RRR). As the Chinese economy is entering a “quasi-deflation” mode, the Central bank is focusing on reducing finance cost in the long run by allowing more and more institutions to use RRR and interest rate adjustments in the short run. These moves, although primarily designed to help the ailing housing market and farming sector, speak volumes about the government’s intention to actively address the concerns of a “hard landing”.
With the freight market still at year lows, it is almost unavoidable to look towards China for glimpses of hope. Whether growth rates will be sustained at levels which will allow healthy trade volumes and subsequently raise freight rates, seems a bit premature to judge. One thing is certain though; all policies from the present Chinese government –even the deflationary ones- have so far been towards the right direction. Although the net result might not be enough to break open the bubbly just yet, we cannot ignore the fact that it is the first week in a long time that we saw some big names in dry cargo chartering slowly coming out of their shell for period charters…
Analysts:
Mr. George Lazaridis
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 11 July 14
UNITED STATE'S MONTHLY COAL OUTPUT FALLS 5.53% IN JUNE
COALspot.com – United States the world's second largest coal producer, produced approximately 18.1 million short tons (mmst) of coal in a ...
Thursday, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
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Showing 3611 to 3615 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- The University of Queensland
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Planning Commission, India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
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