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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, 26 June 15
INDONESIA COAL PRODUCTION FALLS BETWEEN JAN-MAY : JG
The Ministry of Energy and Mineral Resources announced that coal production declined to 166 million tons between January and May, a 19 percent drop ...
Friday, 26 June 15
COAL PRODUCTION IN THE U.S ROSE 6.0% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.3 million short ...
Thursday, 25 June 15
THE PORT OF NEWCASTLE SHIPPED 13.31% MORE COAL IN MAY 2015 COMPARED TO APRIL 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.18 billio ...
Thursday, 25 June 15
CAPESIZE: PERIOD INTEREST REMAINED STRONG FOR A SECOND WEEK - INTERMODAL
COALspot.com: Following those depressive last six months, the BDI closed off on last Friday noting a substantial weekly increase, which pushed the ...
Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all ...
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- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
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- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
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- Semirara Mining and Power Corporation, Philippines
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- Minerals Council of Australia
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- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
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- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
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- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
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- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
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