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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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Tuesday, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
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- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
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