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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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Friday, 22 May 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT AT 16 MMST
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Thursday, 21 May 15
PORT OF NEWCASTLE ACHIEVED ITS BEST EVER TOTAL COAL EXPORT TURNOVER OF 159 MILLION TONS IN 2014
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $900 million ...
Thursday, 21 May 15
ATLANTIC PANAMAX MARKET STARTED TO IMPROVE SLOWLY - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week on the green last week, purely on the back of improved Capesize performance, while the rest o ...
Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of t ...
Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
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- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
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