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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, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
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- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
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