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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, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
Friday, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
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- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
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