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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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Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- PTC India Limited - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- CNBM International Corporation - China
- White Energy Company Limited
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
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