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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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Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
Wednesday, 07 October 15
SHIPPING MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2015 and more specifically during the summer season has been rather remarkable. 421 v ...
Wednesday, 07 October 15
INDONESIA COAL SWAPS HAVE CONTINUED TO DECLINE, FALLING ALMOST 7% M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.23 (-5.51%) per t ...
Tuesday, 06 October 15
THE IMPACT OF LOW OIL PRICE ON THE SHIPPING INDUSTRY - LITERATED
The fall in global oil prices over the last one year has been beneficial to the shipping industry. The demand for oil tankers has picked up and the ...
Tuesday, 06 October 15
FOB RICHARDS BAY COAL SWAPS PLUNGE MORE THAN 6 PER CENT M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
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- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
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- Borneo Indobara - Indonesia
- The University of Queensland
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- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
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- Bhushan Steel Limited - India
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- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
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- Sakthi Sugars Limited - India
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- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
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