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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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Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Tuesday, 28 July 15
INDONESIA DELAYS PLAN TO RAISE COAL ROYALTIES AMID PLUNGING PRICE - JP
The government will postpone a plan to increase royalty payments from coal miners as they are already burdened with the commodity’s plunging ...
Tuesday, 28 July 15
API 5 FOB NEWCASTLE COAL SWAP LOST M-M AND GAINED W-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.15 per MT (-2.51%) month over month to US$ 44.62 per mt. The swap ...
Monday, 27 July 15
KOMIPO INVITES BIDS FOR TOTAL 545,000 MT OF COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase total 545,000 Metric Tons (MT) of coal ...
Monday, 27 July 15
CFR SOUTH CHINA COAL SWAP WEAK M/M; FIRM W/W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.92 (1.77%) per MT month over month.
A commodity swap ...
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- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
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