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Wednesday, 27 January 16
CHINA'S STALLING ECONOMY HAS HAD A GREAT EFFECT ON VARIOUS COMMODITIES; DECREASED DEMAND DRIVING COMMODITY PRICES LOWER AND LOWER - LINOS ALEXANDROS KOGEVINAS
 Having gone through the first few weeks of 2016, it’s starting to look like another challenging year is ahead of us. Hopes for a recovery in the beginning of the year are quickly being tempered by the harsh reality of the situation. Various factors have contributed, in varying degrees, to the formation of a climate characterized by apprehension and distrust towards the future.
China, once held as the main driver of global growth had a lacklustre performance during 2015. With imports falling, projections for 2016 being corrected and billions having been wiped off from the Chinese stock market, it is quite obvious that the effects of the stagnation of the Chinese economy would be felt globally. China’s stalling economy has had a great effect on various commodities with decreased demand driving commodity prices lower and lower.
Iron ore has had a bad year. With a ~39% drop in price during 2015, iron ore rallied during the end of year. However, while global demand is flat, supply has been growing, steadily driving the price down. The big 3 (Vale, Rio Tinto, BHP) have, similar to OPEC’s strategy, been trying to price smaller, higher cost producers out of the market. 2016 is looking rather bleak, with most analysts expecting prices to remain low for the short-to-medium term future. Coal paints a similar picture, with prices falling and expected to fall even lower during the year. The bankruptcy of Arch Coal, the second largest miner in the US, is bad news for the industry. At the same time, major buyers such as Tokyo Electric Power Co. have decided on floating price contracts going forward, signaling that they anticipate prices may go even lower in the future. This of course, has had a large effect on the dry freight market which has been abysmally weak throughout the past year. We’ve observed consecutive historical lows on the BDI, and with various bulkers trading at – or below – OPEX levels, any recovery seems far off in the future.
One of the main issues prevalent during 2015 was the drastic decline in crude oil prices. Brent reached a 14 year low and, after a short 2 day rally, started dropping again and has settled, as of yesterday at $30.34/bbl. Predictably, this has had several adverse consequences especially for oil producers who have seen their profits crumble. It is still questionable whether recovery may occur within 2016. On top of this, with sanctions having been lifted, the Iranian oil ministry has commented that they plan on initially increasing output by 500,000 b/d. Iran’s oil production may very well apply further downward pressure on the price.
At the same time, the raging refugee crisis has dealt a great deal of damage to any stability in the European region. The massive inflows of refugees and the financial and political burden their accommodation has proven to be to the European member states, have all played their part in destabilising the European financial markets. This, coupled with tensions in the Middle East, further intensifies the ever-present political uncertainty.
Global financial stability has been compromised by this array of developments. Shipping, as a primarily reactive industry, has responded to the depressed market conditions and sentiment, exhibiting declining freight rates and asset values on the dry side. The future is almost certain to hold further challenges to the already beleaguered shipping market.
By Linos-Alexandros Kogevinas
Marketing—Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 16 November 15
KOMIPO INVITES BIDS FOR 1.295 MILLION TONS OF BITUMINOUS COAL FOR Q1 - Q2'16
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 1,295,000 Metric Tons (MT) of minimum 4,600 kc ...
Monday, 16 November 15
SOUTH CHINA COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.05 (12.59%) per ton month over month.
A commodity swa ...
Monday, 16 November 15
CLARKSEA INDEX COMPETITION: IS IT ALL IN THE TIMING? - CLARKSONS
Readers of the Shipping Intelligence Weekly are invited each year to predict the value of the ClarkSea Index one year ahead in the first week of No ...
Monday, 16 November 15
DRY BULK MARKET: Q1' 2016 SHAPING UP TO BE A ' DISASTROUS' ONE OF PROJECTED LOWER IRON ORE IMPORTS FROM CHINA
Over the course of the past year or so, it’s been the drop of coal imports from China, which has had a detrimental effect on the course of dr ...
Friday, 13 November 15
WEAK CHINA POWER DEMAND DAMPENS COAL CONSUMPTION - FITCH
The weak growth in China's electricity consumption in 2015, together with increasing non-thermal power generation capacity are exerting more pr ...
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Showing 2711 to 2715 news of total 6871 |
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- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- The University of Queensland
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- White Energy Company Limited
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
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