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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, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
Wednesday, 10 June 15
TANKER MARKET INSIGHT - STELIOS KOLLINTZAS
As we go through the end of the 2nd quarter of the year it is evident that the tanker shipping markets have been rewarding and definitely been show ...
Wednesday, 10 June 15
WORLD COAL MARKET HEADING TO NEW EQUILIBRIUM: MINISTER - JAKARTA POST
Energy and Mineral Resources Minister Sudirman Said has said the world’s coal market is heading towards a new balance, which will make Indone ...
Wednesday, 10 June 15
FOB INDONESIA COAL SWAP ROSE W-O-W AND M-O-M
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and week over week, this past week.
The Q3 swap was climbed by $ ...
Tuesday, 09 June 15
GLOBALCOAL IMPLEMENTS VOLUMETRIC SIZE LIMITS IN RICHARDS BAY MARKET
COALspot.com: globalCOAL today announced that following recent market consultation, it will limit bids, offers and trades in the fixed price Phys R ...
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- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- PTC India Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
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