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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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Sunday, 21 June 15
SPOT RATE AVERAGES FOR FREIGHT FROM INDONESIA TO INDIA REMAIN STRONG THIS WEEK
COALspot.com: The freight market was quite firm this week compared to last week. The BDI was up 21% week on week and closed at 779 points. The cape ...
Friday, 19 June 15
U.S. WEEKLY COAL PRODUCTION UP SLIGHTLY COMPARED TO LAST WEEK; CONTINUES TO BE DOWN FROM LAST YEAR
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.4 million short ...
Friday, 19 June 15
INDONESIA'S COAL-TRAFFICKING PROBLEM REQUIRES IMPARTIAL INQUIRY - JAKARTA GLOBE
Indonesia, the leading supplier to the seaborne thermal coal market, produces 420 million tons of coal per year, according to its official tally.
...
Thursday, 18 June 15
DRY BULK SHIPPING: LOWEST FLEET GROWTH IN 10 YEARS MAY NOT PROVE ENOUGH AS DEMAND IS NOT KEEPING PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The demand side of things in the dry bulk market seems unable to keep pace with even the slightest fleet growth, a sign of the demise that the indu ...
Thursday, 18 June 15
THE FAR EAST HANDYSIZE, HANDYMAX, SUPRAMAX MARKET REMAINED STEADY LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market closed off on Friday (last week) noting small gains on the back of stronger performance in the Panamax segment, w ...
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- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Kumho Petrochemical, South Korea
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