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