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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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Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
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- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Petron Corporation, Philippines
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