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