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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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Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
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Showing 2811 to 2815 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
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