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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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Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
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- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
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