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