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