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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, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Minerals Council of Australia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
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