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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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Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
Thursday, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
COALspot.com: Intermodal ship broker says in its weekly report that, a different picture from what we saw the previous week was painted during the ...
Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
COALspot.com: Rio Tinto is preparing its first shipments of metal from its world-class Kitimat aluminium smelter in Canada following an extensive m ...
Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
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$ ...
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- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
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