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Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
 Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the long-term aftermath of last week’s vote, will be a curb in the global economy’s growth. In its latest weekly report, Allied Shipbroking started its analysis by stating that “it seems to be a good time to quote an old British war time motivational poster, by saying “keep calm and carry on”. The developments that unfolded from the referendum held in the U.K. on Thursday left many within the U.K. and globally waking up with a hang over which they found hard to shake off. Panic spread in the stock markets and forex trading, as most investors rushed to take refuge wherever they could so as to avoid the immense increase in uncertainty and potential volatility. In part this was over exaggerated, as when one takes a sober look at how a Brexit would occur you could see that the process is to be stretched over a long period of time and it will likely be done in an orderly fashion”.
Nevertheless, as Allied’s Head of Market Research & Asset Valuations, Mr. George Lazaridis points out, “the potential fallout is significant. We have already witnessed a considerable rally in the U.S. Dollar, Japanese Yen and the price of gold. With the first two not taken as positive outcomes by the respective economies i.e. The U.S. and Japan, which are likely to be hurt by this in terms of their trade balance and in turn their competitiveness in the global markets. At the same time, there is less bullishness with regards to the major developing economies, with the Chinese economy being hit both in its stock market and its currency. The lower price of the Renminbi could possibly boost the competitiveness of their exports, but as a more immediate effect it will likely cause difficulties in terms of the importing of raw materials like iron ore, coal, grains and crude oil as their relative price increases considerably”.
Allied’s analyst added that “furthermore, given the fact that the focus of late within mainland China has been to source the next round of its economic growth from its own consumers, their purchasing power will be diminished by the inflationary pressure brought about by the hike in the prices of these main commodities. This however is a short term effect and should dissipate fairly quickly. The main thing that will remain is the likelihood of a further slowdown in the global economy and trade during the next two years, as the initial effects take on the first punch, later followed through by a lack in investment and consumer spending due to the once again increasing uncertainty, after which we will also see the third stage of the fallout be the actual dent caused in the two main economies involved (the U.K. and Europe) by the reversal of the open trade agreement currently held”.
According to Allied, “the effect of this last stage should spill over to the rest of the globe as the global multiplier of trade and economic growth takes a hit. It is obvious to point out here that all this depends on what happens next and being that the scenarios are multiple and a lot depends on the next decisions made by politicians, it is hard to see at this point which way things will swing. No matter which way the two parties choose to go politically and economically through their negotiations, the damage has been done and given the state of things, it looks as though we are in for a bumpy ride over the next couple of months while the ripples of the initial shock felt in the financial markets on the very day after the referendum, will soon come and hit the shores of shipping and global trade itself. The intense uncertainty and volatility will only amplify that which has already been seen in shipping markets up until today and will likely bring about a big series of further problems in terms of the balance between supply and demand”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
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- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
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- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
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- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
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- Chamber of Mines of South Africa
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- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
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- Baramulti Group, Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
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- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
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- Australian Coal Association
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- Economic Council, Georgia
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- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
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- Bharathi Cement Corporation - India
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- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
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- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Tamil Nadu electricity Board
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- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
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- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
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- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
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