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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, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
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- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Planning Commission, India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Australian Coal Association
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
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