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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, 17 July 15
DO CANCELLATION RIGHTS UNDER VOYAGE CHARTERPARTY SURVIVE RE-NOMINATION OF LOAD PORT? - INCE&CO
KNOWLEDGE TO ELEVATE
Do cancellation rights under voyage charterparty survive re-nomination of load port?
St Shipping & Transport Inc ...
Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
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$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
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- Australian Coal Association
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
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