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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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Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
Thursday, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
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- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Planning Commission, India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- The University of Queensland
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- White Energy Company Limited
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
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