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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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Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
Wednesday, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
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$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
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- Carbofer General Trading SA - India
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- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
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- Romanian Commodities Exchange
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- Coal and Oil Company - UAE
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- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
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- Global Green Power PLC Corporation, Philippines
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- Bukit Baiduri Energy - Indonesia
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- Barasentosa Lestari - Indonesia
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- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
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- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
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- Videocon Industries ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
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- Global Business Power Corporation, Philippines
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- European Bulk Services B.V. - Netherlands
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- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Economic Council, Georgia
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- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
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- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
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- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
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- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
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- New Zealand Coal & Carbon
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- Indogreen Group - Indonesia
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- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
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- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
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- Maharashtra Electricity Regulatory Commission - India
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- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
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