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Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market is unable to hold its ground and keeps scraping the bottom of the barrel time and time again. Meanwhile, apart from the inherent imbalance between demand and supply in the dry bulk market, shipping can’t seem to be able to benefit from any macro economical factor as well. As Allied Shipbroking pointed out in its latest report, major economies globally show signs of stuttering growth and troubling signs as to the course they will take over the coming year. “If that wasn’t enough, further geopolitical troubles are surfacing here and there, leaving little to be optimistic about”.
According to Allied’s Head of Market Research & Asset Valuations, Mr. George Lazaridis, “this week we witnessed further sorrows come out of China as it posted its tenth consecutive month of shrinking manufacturing data. This was enough to spook investors further, pushing as such for another major drop of 7% in the Chinese stock exchange last week and activating a halt in all share trading. With further bad news compounding as both the U.S. and U.K. also posted a softer end to 2015, it wasn’t long before a series of major stock market drops was noted, with the FTSE 100 noting a drop of 2.6% which is its second worst New Year opening on record (worst opening was recorded in 2000 with a drop of 3.8%)”.
He went on to mention that “at the same time, China’s government and state owned institutions will have to undertake an equity buying scheme to prop up the stock market and sell dollars from their foreign-exchange reserve in order to stabilize and support the Yuan. This will come at a great cost and likely will not be sustainable, especially when considering that it cost China around US$ 300 billion of foreign-exchange reserves during the past 6 months to stabilize the Yuan. What’s worse is that such measures will only further weaken China’s demand for imports and could possibly trigger a global currency war, causing a further weakening in global trade and leaving shipping markets in an even worse state then what was witnessed in 2015”.
As though this wasn’t enough, “troubles in the Middle East continued to intensify as diplomatic relations between Saudi Arabia and Iran came to an abrupt halt, leaving little hope of the ongoing issues in the region to be dealt with. It’s not without cause there-fore that the BDI took on a drop of 49 points from its last closing in 2015”.
Lazaridis noted that “it isn’t a great start to the year, but it might just be the nudge needed in the market to balance things once again. A careful rebalancing act has to take place in order to reset the market and reverse all the extravagances made in the past. China will have to find a better foothold and restructure its macroeconomic policies in order to properly pro up its economic growth, while the current turmoil allows for the next wave of devel-oping nations to find room to grow and take on their “economic catch up phase”. As an example of this, India is expected to note the highest economic growth this year amongst the largest world economies. Economies such as that of Brazil, which for years have been feeding their growth model primarily on the raw commodities they export will be forced to restructure and move onto more long-term sustainable growth patterns focused on “added-value”, he said.
Meanwhile, more so then anywhere else however, it is the shipping markets and particularly that of dry bulkers which will see a year of market correcting mechanism take hold. Scrap-ping will likely continue on its fast pace, pushing out excess tonnage from the market, while the lack in interest for investments in newbuilding orders will not only contain the fleet growth moving forward but will also likely cap in absolute terms the global shipbuilding capacity and prevent excessive ordering in the future as well. All this is a slow and painful process, but most of us hold hopeful that 2016 will bring about the underlining fundamentals needed to feed the next market boom”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
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- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
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