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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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Sunday, 31 January 16
BDI CONTINUED ITS FALL AND CLOSE AT A FRESH RECORD LOW ON FRIDAY
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, continued it ...
Friday, 29 January 16
INDONESIAN BENCHMARK COAL PRICE SETTLES DOWN $ 0.31, OR 0.58%, AT $ 53.20 A TON
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further down in January 2016. HBA has slumped by 0.58 ...
Friday, 29 January 16
U.S. COAL PRODUCTION OFF 2 PERCENT FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 milli ...
Thursday, 28 January 16
COAL REMAINS THE NO.1 FUEL FOR POWER GENERATION - EXXONMOBIL
COALspot.com: Energy demand trends from 2010 to 2040 are expected to vary significantly around the world, as countries move along very different tr ...
Thursday, 28 January 16
WHAT ARE THE PROSPECTS FOR COAL IN LIGHT OF THE PARIS CLIMATE AGREEMENT? - GERMAN COAL IMPORTERS ASSOCIATION
This depends – says the VDKi – to a very great extent on who you want to believe more, the United Nations or the International Energy A ...
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- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
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