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