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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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Wednesday, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
Tuesday, 30 June 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED $ 43.45 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and flat week over week, this past week.
The Q3 swap was decli ...
Monday, 29 June 15
CFR SOUTH CHINA COAL SWAPS UP SLIGHTLY MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.57 (1.11%) per MT month over month.
A commodity swap is a ...
Monday, 29 June 15
FOB NEWCASTLE COAL SWAP SLIGHTLY UP MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.49 per MT (1.08%) month over month to US$ 45.77 per mt. The swap was ...
Saturday, 27 June 15
THE FREIGHT MARKET WAS STEADY EARLIER IN THE WEEK; SOFTEN INTO WEEK'S END
COALspot.com: The freight market remain steady earlier in the week, but towards end of the week BDI and BCI shows some signs of softening.
The ...
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- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
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