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