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Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this week, that “the real direct impact which shipping might have to face from the FED’s decision to increase interest rates would be in terms of financing”.
According to Allied’s George Lazaridis, Head of Market Research and Asset Valuations, “with most loans being dollar denominated and the spreads on offer by banks already on the high end compared to what the industry has been offered over the past decade, it would likely make ship financing an even harder task for many to undertake. The lack in availability of finance has been a key characteristic of the market for well over 2-3 years now, and this would likely deteriorate things further. Nevertheless, such difficulties may prove to help in the long run, allowing for a tightening of new investments and especially in terms of further ordering. At the same time the higher financing cost will eventually be absorbed by freight rates as it will be a cost shared by the majority in the industry, while once the freight market finds its footing once more and starts to improve, this cost will start to play a more minor role once more. For the time being what one hopes for more is for a possible escape from the pessimism that has plagued the global markets over the past months, the possible negative side effects seem like small hurdles in comparison”, said Lazaridis.
Analyzing the current macroeconomic climate, Allied’s analyst said that “with the U.S. economy still managing to show fairly promising figures with regards to its trajectory, the Federal Reserve is inching closer to the decision to make its pivotal decision regarding an interest rate hike (something that could materialise as early as this week). Although, the fundamentals are a positive overall sign for shipping there are things to feed worries below the surface and on an indirect basis. The main focus and what helps support an optimistic view towards the current decision revolves around the fact that with the global economy lacking a strong source of economic growth, a positive outcome for the world’s largest economy can be taken as a very favourable move and one that could help drive the rest of the global growth engine as it once did in the past. With such a high consumer base and a strong source of indirect investment, its economy is highly placed to support growth elsewhere around the world”.
Lazaridis added that “yet as things are showing, neither is its current strong growth a given (with some shaky signs having been noted during end of spring early summer) nor is a decision to increase interest rates sure to spring further growth down the line. In regards to the latter, it will likely spur extra lending by banks which is going to drive both investment within the economy and allow for improved earnings from banks themselves. Yet it will also drive for an increase in the default rate of bad loans, as those who are already struggling to meet their debt obligations are likely going to find themselves sooner rather than later in default. This is the least of what this latest development could bring about, as the emerging economies will struggle to maintain the same amount of interest in attracting further investment, while their previous dollar denominated debt will become more expensive to pay off as the dollar strengthens against the borrowers’ local currencies”.
He went to say that “further to this end, corporate profits previously retained in many of these emerging economies by big multinationals will likely be repatriated back to the U.S. as local investment starts to become more favourable. Yet all this might end up as a more favourable outcome for shipping as an economy the size of the U.S. could allow once more for the export-led growth models than many of the emerging economies still focus on. As an example a fast pace increase in consumer spending in the U.S. could allow for increased exports out of both China and India which would in turn drive their economies into further production growth”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
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- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Australian Coal Association
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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