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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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Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
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- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
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- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
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- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
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- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Planning Commission, India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
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