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