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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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Tuesday, 26 January 16
Q3'16 CFR SOUTH CHINA COAL SWAP DROPPED BELOW $41 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.82 (1.94%) per ton month over month.
A commodity swap is ...
Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
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- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Planning Commission, India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
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