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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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Wednesday, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
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- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
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