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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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Sunday, 26 July 15
INDO-INDIA OCEAN COAL FREIGHT RATES REMAIN STEADY
COALspot.com: The freight market continued lost steam towards end of the week and all indices were showing downward trend.
The BDI was up by 3 ...
Friday, 24 July 15
U.S PRODUCED 17.2 MMST OF COAL FOR THE WEEK ENDED JULY 18; FELL 11.5% YEAR ON YEAR
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.2 million shor ...
Friday, 24 July 15
THE IMPACT OF COLLAPSING CHINESE COAL IMPORTS - CLARKSONS
Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The dr ...
Thursday, 23 July 15
ELEVEN NEW NICKEL SMELTERS ARE TO BE BUILT IN INDONESIA OVER THE NEXT TWO YEARS AT A COST OF $1.4 BILLION
Indonesia’s Most Reputable Nickel Event
Eleven new nickel smelters are to be built in Indonesia over the next two years at a cost of $1. ...
Thursday, 23 July 15
THE CAPESIZE SEGMENT KEPT FOUNDING SUPPORT ON INCREASED DEMAND FROM CHINESE STEEL MILLS - INTERMODAL
The Dry Bulk market closed off on Friday (17July 2015) noting substantial gains and the BDI surpassing the 1,000 points level for the first time af ...
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- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
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