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