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Monday, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the past few months, most notably since the start of 2015, which is leading most owner to a complete overhaul of all aspects that impact the supply of tonnage. As such, scrapping activity and the reorganization of the newbuilding delivery programme have intensified over the past few months, leading to a hold back of the growth rate of the fleet.
Yet, according to Allied Shipbroking’s latest weekly report, “what will inevitably dictate the course of the market going forward will be the rate of new contracting that takes place, as even if we take steps to counter the effects of the current order-book, their effects are limited if we continue to see the number of vessels on order in-creasing or even holding at their current numbers”.
According to Mr. George Lazaridis, Head of Market Research & Asset Valuations with Allied Shipbroking, “to the dismay of the shipbuilding industry as a whole, new contracting has been consid-erably marginalised by shipowners and potential investors. New orders have slowed down to a trickle, with the latest figures pointing to a total of only 329 units of all ship types being ordered in the period between January and May. This is a serious reduction compared to previous years, showing a fall of 61.7% compared to the same period in 2014 and a 55.9% compared to 2013″.
Of course, as Lazaridis notes, “one may say however that this reduction, though considerable in size, might well be attributed solely to a lack in appetite for dry bulkers. This is partly true, with dry bulk orders dropping during this five month period by 78% compared to 2014 and by 70% compared to 2013. Nevertheless, the lowered appetite for new ordering has not been limited to just dry bulkers. Tankers, which have been showing off stellar results in terms of freight earnings this year, have not been able to generate investor interest for new orders to the extent that they had in the past”.
He added that “new contracts have dropped by 40.9% and 48.8% compared to 2014 and 2013 respectively. A point to note however, is that a large chunk of the dry bulk orders that have been switched during this year have been changed over to tanker orders, adding as such to the orderbook without the placing of “new” contracts so to speak. Another sector which has seen additions through the switching of dry bulk orders has been the containership sector, though here it seems that new contracts have been holding at a relatively better pace, falling short by only 26.5% compared to 2014 and 30.1% com-pared to 2013. Finally the Gas sectors, which have seen an extraordinary rebirth in the volume of new contracts being placed during the past 3-4 years, have also been met with scepticism during 2015. New orders here dropped by 69.4% and 55.2% compared to 2014 and 2013 respectively”.
So as we can tell it has been a very difficult year so far for shipbuilders. Lazaridis said that “the main question is as to what extent can this trend continue as we move forward? and with some sectors in the shipping industry showing good earnings results, what is holding poten-tial buyers back from placing new contracts? With the poor performance in the dry bulk market having had a considerable influence on all shipowners and with the global mar-kets struggling to show signs of more prosperous times ahead, it seems that most feel more comfortable to keep a conservative approach in regard to new contracting. At the same time secondhand asset prices have been viewed more favourably during the past five months as the discounts offered are considerable compared to the respective of-fered newbuilding prices. What’s more and as a final point, many potential buyers might well be waiting for further discounts to be offered down the line by shipbuilders, as pressure mounts for them to upkeep their orderbook alive” he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 07 August 15
COAL PRICE DEVELOPMENTS CAN ONLY BE DESCRIBED, SUCCINCTLY AS "OVERSUPPLY MEETS SUBDUED DEMAND" - VDKI
Coal Outlook 2015 – International
Regarding the outlook for global coal trading, two questions arise: firstly, “ whether the years of ...
Friday, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- White Energy Company Limited
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
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