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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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Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
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 ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
...
Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
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- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- White Energy Company Limited
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
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