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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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Monday, 13 July 15
THE DRY BULK MARKET CLOSED ON A POSITIVE TONE THIS PAST WEEK
COALspot.com: Despite Greece crisis and turmoil in the stock market across the world , the freight market overall was firm and up in all segments t ...
Sunday, 12 July 15
SHIPYARD NOT LIABLE FOR ENGINE ROOM FIRE CAUSED BY OIL LEAKAGE - BIRCH WINDAHL
KNOWLEDGE TO ELEVATE
A Danish vessel owner requested a Danish shipyard to undertake repairs and maintenance works on its vessel. An agreement ...
Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters (tcm) of natural gas re ...
Friday, 10 July 15
DRY BULK MARKET KEEPS POSITIVE MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its positive momentum over the course of the past few days, thanks to Panamax gains. During yesterday’s session ...
Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
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- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
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