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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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Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
Wednesday, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
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- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Planning Commission, India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- The University of Queensland
- Australian Coal Association
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
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