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