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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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Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
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- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
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