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Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
 Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we leave behind q1, evidence suggests that there are increasing chances that this is not going to be the case, with projections for global growth once again being revised downwards.
The latest estimate by the International Monetary Fund in April projects a modest 3.2% global growth for this year, 0.2% down from the January projection and just 0.1% higher that the estimated global growth for 2015. Once again the biggest part of this year’s world growth will come from the emerging economies, although they are not expected to grow at a much faster pace than they did in the year before with the economic slowdown in China and the weak growth both in oil and non-oil commodity exporters having their effect on the final projection estimates.
Moreover, the presence of several additional risks like further incidents of financial turbulence or a larger than anticipated adverse effect of lower oil prices on oil exporting countries and various other geopolitical risks including a possible Brexit, increase uncertainty over future economic developments and may lead to the realization of even weaker growth scenarios before the world economy picks up at a projected 3.5% growth in 2017.
With regards to global trade, which is of prime importance to the shipping industry, the latest evidence provided by the OECD suggests that its growth rate for 2016 will be weak along the projections for global growth. Overall things in the global economy draw a not very promising picture for the Dry Bulk sector in 2016 and despite the fact that during the last couple weeks we have moved away from the historically low levels we witnessed during the last part of 2105 and the first months of this year, things in the sector remain shaky as falling demand and weak growth prospects occur on the back of excess tonnage supply.
Given that things continue to steadily improve, 2017 is expected to be a much better year for the sector and the shipping industry overall. Saying that, we should all be patient and cautious as we have just left q1 and three more quarters are on their way before this year concludes.
By Vassilis Logothetis
Research Analyst
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Planning Commission, India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Ministry of Transport, Egypt
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