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