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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 13 November 15
DRY BULK, IT IS HARD TO MAINTAIN AN OPTIMISTIC VIEW FOR THE NEXT COUPLE OF MONTHS - INTERMODAL
COALspot.com: The dry bulk owners looking for cover remained under pressure for size segments across the board. With Capes closing off the week as ...
Friday, 13 November 15
WEEKLY US COAL PRODUCTION DECLINES TO 16.5 MMST; SLIDE 14.9% Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Thursday, 12 November 15
FOREIGN COAL MINE ACQUISITION - STRATEGY VERSUS OPPORTUNITY FOR INDIAN UTILITIES - DIPESH DIPU
The acquisition market for thermal coal assets abroad is dull. Sellers of all hues are in the market; some are actively scouting for buyers while o ...
Thursday, 12 November 15
PORT OF NEWCASTLE'S COAL EXPORT VOLUME UP IN OCTOBER 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.254 billio ...
Wednesday, 11 November 15
Q3' 16 RICHARDS BAY COAL SWAP LOST 15.47% SINCE 6 AUGUST; 18.65% SINCE 6 MAY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 declined week over week and month over month.
The Q1’ 2016 &nb ...
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Showing 2716 to 2720 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- PTC India Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
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