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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, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
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- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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