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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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Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
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- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Planning Commission, India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
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