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