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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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Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
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Showing 3651 to 3655 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Australian Coal Association
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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