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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, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
Monday, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- The University of Queensland
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
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