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Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given that the world’s second largest economy is still growing at a more than respectable pace. However, issues inherent with the dry bulk industry itself, like for instance the tonnage oversupply, have led freight rates to record setting lows over the course of the past few months. So, as we leave the Chinese year of the Wooden Sheep and enter the year of the Fire Monkey, hope is again on the horizon for a turnaround, sooner, rather than later.
According to Allied Shipbroking’s latest weekly report, “the Chinese economy has gone through a bumpy road these last 12 months, with the Dry Bulk market closely following in suit and suffering as a consequence. China has been the driving force behind much of the global growth noted during the 2000’s, with its fast paced infrastructure development and it’s ever in-creasing production lines, making it seem like a mammoth panda with a never ending appetite for commodities”.
According to Mr. George Lazaridis, Head of Market Research & Asset Valuations, “somewhere within 2015, this illusion disintegrated in the minds of many in the ship-ping industry as they witnessed a sudden drop in the growth of shipments and a col-lapse in the freight market. At the same time, China was showing a decrease in its GDP growth rate while also noting consecutive months of decreasing manufacturing data and a sudden halt and crash in its stock market. The shock waves quickly reverberated across the world, pulling down the price of commodities further and hitting the bottom line of many countries which used their vast exports of these commodities to China in order to feed their own prosperity”.
Lazaridis added that “with all this well and said, many now feel as if there is no escape from this never ending downward spiral. China, despite all the growth and wealth that has been generated over the past 15 years, still holds a fairly low GDP per capita compared to OECD countries. Combining this with the fact that it has only just started to undertake the transformation (moving from a cheap manufacturing location to an economy supported by innovation, technological development and highly skilled services) and you see that there is still plenty of room for further economic growth”.
Allied’s analyst also noted that “having witnessed similar economic shifts in countries such as Japan and S. Korea in the past, this transitional phase is fairly tricky to accomplish and key in keeping the growth momentum generated during the export -oriented growth phase on track. If and when this next phase succeeds, it will be creating a vast “army” of higher income consumers, which in turn will be able to support another round of global economic growth in the way consumers in the U.S. and Europe did during the 2000’s. This of course is in theory, as it is highly dependent on several market aspects. For example, when talking about the economic drive of the 2000’s for example, it is important to note that these U.S. and European consumers managed their ever increasing consumption on masses amount of cheap debt”.
He concluded by saying that “for the moment however, Chinese consumers have focused the majority of their spending on locally produced goods and services, as such only feeding China’s internal economy and insufficiently as it seems, as the decreasing growth in exports means that it is quickly having to really more and more on its own consumers which are not there yet to cover the gap left behind. Taking into account the “monkey” business that has been taking place in cases that have surfaced both in relation to the stock market as well as giant “Ponzi” schemes and you can tell that the Chinese economy is not only still in its infancy compared to a “developed” economy but it is also making the same mistakes as those done by the current “developed” economies. All concluding, the year of the Fire Monkey will be a year of transitions and it is to how successful these transitions will turn out to be that will dictate the next course of global trade. Till then wishing all our friends in the Far East, Gong Xi Fa Cai”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
Monday, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
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- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
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