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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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Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
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- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- PTC India Limited - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
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