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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, 04 June 15
DRY BULK MARKET FAILED TO OFFER ANY POSITIVE SURPRISES - INTERMODAL
COALspot.com: This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring belo ...
Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increase ...
Tuesday, 02 June 15
FOB INDONESIA COAL Q3 SWAP ADVANCED 1.73% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and lost week over week, this past week.
The Q3 swap was climbed ...
Tuesday, 02 June 15
FOB RICHARDS BAY COAL SWAPS; Q3'15 CLOSED HIGHER THAN Q1'16
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 up month over month and week over week.
The Q3 swap was up US$ 0.80 (1 ...
Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
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- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
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