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Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of global economy, trade and demand. “An industry trying to re find itself” has been the title phrase that best describes shipping during the past 12 months, said Allied Shipbroking in its latest weekly report. “After an extraordinary decade were the industry gained not only from fast paced world economic growth but also from the opening of trade and bolstering of largely dispersed supply chains, international trade volumes managed to grow at an average rate which was twice as fast as that of the world economy. This self-feeding super cycle caused great escalation in the movement of commodi-ties as well as finished products, driving demand for shipping to new highs”, Allied noted.
As George Lazaridis, Head of Market Reseach & Asset Valuations pointed out, “this was a cycle in the market which like any other was not meant to last forever and as we moved towards the end of 2011 it was already starting to become evident that growth in glob-al trade volumes was set to fall to levels far below the long-term average of 5% a year. During 2015 global trade volumes grew by 2.58% year-on-year, while the average rate seen since 2012 has been 2.49% and has rarely even reached the 5% figure”.
Lazaridis notes that “all this has meant that shipping has had to restructure itself in order to reflect and follow this new trend. Shipping is driven by demand and must always follow the prevailing trends seen in global trade. With most in the industry being used to the excessive growth rates witnessed in the 2003-2007 period, it has proven that the rehabilitation period will last much longer then what we had seen during previous cycles. It is almost as if many watch in disbelief that the high paced growth years are over and will not be seen again soon. A good example of this had been the large scale ordering that was undertaken during 2010 as well as the more recent ordering spree of 2013-2014″.
This however have started to change. As Allied’s analyst pointed out, “new order contracting has all but vanished during 2015 and scrapping along with orderbook cancellations and delays has helped dampen fleet growth to levels that better match that of global trade. All this has been a bigger issue for the dry bulk market which has accounted for ever less percentage in the growth of world trade (notable that crude oil and oil products have accounted for some of the largest gains during the past 12 months) but even saw the well placed actions undertaken by the market as a whole has started to show signs of bearing fruits”.
Allied said that “Capesize freight rates this week noted one of their fastest paced increases after a seasonal influx of cargoes was matched by few open vessels leaving traders to scramble in order to cover their requirements. With the Capesize Fleet having witnessed a 0.07% year-on-year increase (essentially only 1 more vessel than what we were seeing last September) the market has already start to rebalance better matching the average requirements put out during the seasonal cycles of the year”.
Lazaridis said that “so, there you have it, there is a way out of the gloomy market downturn but it involves a redefining of how we view the markets rather than waiting for another global trade super cycle. The dangers are now more placed in the hands of the industry itself and its ability to revert from “shooting itself in the foot” so to speak. With the shipbuilding industry having also been forced into a corner these past months, progress has been made in preventing further ordering sprees such as those mentioned earlier as ship-building capacity has also decreased somewhat. If we are able to keep fleet growth rate under cap and closer to what global trade growth dictates, then we might just be closer to more promising freight market levels steering well away from the levels we had been seeing during the first half of 2015:, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- The University of Queensland
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
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