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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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- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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