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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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Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
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- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- White Energy Company Limited
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
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