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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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Tuesday, 08 September 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO SHOW DECLINING TREND
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$ ...
Tuesday, 08 September 15
GANGAVARAM PORT IN INDIA DISCHARGES RECORD 112,599 MT OF STEAM COAL IN 24 HOURS
COALspot.com: Gangavaram Port, an all weather, multipurpose port with water depth up-to 21 meters, capable of handling fully laden Super Cap ...
Monday, 07 September 15
THE MINE OF THE FUTURE WILL HAVE ONLY TWO EMPLOYEES, A MAN AND A DOG - SCOTT MCGOWAN
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Scott Mcgowan, Director, Global ...
Monday, 07 September 15
FOB NEWCASTLE COAL SWAP FOR Q2' 16 DELIVERY CLOSED US CENTS 25 LOWER COMPARED TO Q4' 15
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.73 per MT (-1.68%) month over month to US$ 42.65 per mt. The sw ...
Monday, 07 September 15
CFR SOUTH CHINA COAL SWAPS ROSE 1.1 PER CENT WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.52 (3 %) per MT month over month.
A commodity sw ...
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Showing 2826 to 2830 news of total 6871 |
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- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
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