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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, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodi ...
Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
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- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
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