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