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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, 05 October 15
Q1 & Q2 2016 DELIVERY SWAPS DECLINED M-M AND W-W THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.36 per ton (0.85%) month over month to US$ 42.12 per ton. The ...
Monday, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
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- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- White Energy Company Limited
- SMC Global Power, Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
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