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Tuesday, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
 We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace noted within to 2016. Given the glut in tonnage supply that has accumulated since 2011, the shipping industry has found it very difficult to find a stable foothold from where to keep itself in “normal operations” and with viable earnings, says George Lazaridis Head of Market Research of Allied Shipping.
George Lazaridis further said, what has made 2015 & 2016 so problematic is that the balance between demand and supply went further off course as trade growth almost came to an absolute halt. This growing concern had been in part expressed in the worries that were being voiced over the outcome of the U.S. elections, with many prominent economists and economic analyst in major organizations seeing a further deterioration of the situation as major countries around the world start to turn to more inward focused economic policies. Just one day after the results came out and we started to see a very different picture emerge in the markets, said George Lazaridis.
He further noted that the trade in most bulk commodities was instantly boosted, with freight rates in both the dry bulk and tanker markets for the majority of size groups shooting up considerably. At the same time, commodity prices were in for a major rally, with most prominent that of coal which even managed to peak at some point above US$ 100 per tonne. Things have quieted down considerably on all fronts since then and it looks as though we are heading towards some normality which is still at better levels than it was one month prior. Where did all this optimism come from however and does it have enough basis for it to match a more long-term trend?
George Lazaridis Head of Market Research & Asset Valuations of Allied Shipping further said this quick move seems to have been generated by a series of events that took place triggering a domino move that boosted things further and further, urging the speculators to further fuel the market. For one we had the basis of most of the pre-election talks by Mr. Trump that referred to a splurge of infrastructure spending in the U.S. during his presidency. Such a splurge would need to be adequately fed by bulk commodities such as steel, cement and other vital bulk commodities used in construction. As the market moved more bullish for these commodities and several traders went into stockpiling mode in order to be adequately stocked for the proposed boom in demand, the second wave of effects started to take hold.
According to George Lazaridis, a mass of investors had already started to flee out of several emerging markets (such as Mexico) and starting to head towards the commodities markets which had shows greater promise since the summer period. As they flocked they boosted prices ever further and with prices rising quick a surge was generated (essentially a mini bubble) as traders looked to move quick before prices got too hot. Similarly, traders in many economies which are heavy importers of these commodities where in an even bigger rush as the strengthening dollar amplified the price hike even more.
These price hikes in commodities, according to George Lazaridis, were to the main benefit of ship owners as the cost of freight became an ever more insignificant portion in the whole equation, taking second place to the speed with which a trader could book the cargo he was after.
This speculatively fueled rally has boosted the market significantly however it seems as though it has run its course for now. That’s not to say that an imminent collapse is now in sight. It looks as though trade might hold at much better levels for the remainder of the final quarter of 2016 than it did a year ago. As to how well it will cope in the first quarter however, is another story altogether,George Lazaridis concluded.
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Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
Tuesday, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
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- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Planning Commission, India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
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