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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, 18 June 15
MERCATOR'S KAMSARMAX FIXED WITH CLEARLAKE
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company focused on markets such as India, ...
Wednesday, 17 June 15
PANAMAX RATE AVERAGED $22.82 PMT IN THE FIRST 10 DAYS OF JUNE FOR THE GRAIN ROUTE FROM SANTOS, BRAZIL, TO QINGDAO, CHINA - INTERMODAL
This year, Brazil will be exporting a record 96 million tons of soybean crop and starting in August the country will begin shipping a second corn c ...
Tuesday, 16 June 15
MERS: POTENTIAL CHARTERPARTY IMPLICATIONS - CLYDE & CO
KNOWLEDGE TO ELEVATE
South Korea's current outbreak of Middle East Respiratory Syndrome (MERS) has been the focus of much international at ...
Tuesday, 16 June 15
Q3 FOB INDONESIA COAL SWAP PRICE DOWN 50 CENTS OVER PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month but declined week over week, this past week.
The Q3 swap was clim ...
Tuesday, 16 June 15
FOB RICHARDS BAY COAL SWAPS: PRICES MOVED UP ON THE WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 1.70 ...
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- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
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