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Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
 With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk newbuilding activity. New ordering activity has been curtailed significantly (especially when compared with the two preceding years) and the worldwide orderbook has significantly deflated during the past 12 months, as a result of the excessive volatility that has dominated the freight market this year, Allied Shipping Research in its latest weekly report.
According to Yiannis Vamvakas, Research Analyst of Allied Shipping Research, beginning with the kingpin of the dry bulk sector, the Capes, has definitely had a remarkable year, with the first half of the year seeing rates hover for several weeks at levels as low as US$3,500 per day, while during the final part this same market managed to reach a peak of just above US$38,000 and held for several months above the US$ 20,000 mark. This instability in the market seems to have enhanced concerns amongst potential investors and as a result we have seen a mere 138 new newbuilding contracts in the year so far.
Yiannis Vamvakas further noted that, this is a significant decline compared to 199 orders that were placed last year, as well as below the 147 orders made back in 2017. As a result, the orderbook has scaled back during the year by approximately 18%, while the orderbook to fleet ratio now holding at around 11%. With 122 vessels expected to be delivered in 2020, second thoughts will be lingering as to the prospects of placing any further new orders any time soon. A similar pattern was to be seen in the Panamax segment, with both the number of new contracts and the total orderbook having thinned out compared to last year. Interest for newbuildings has dropped, with a meagre 22 new vessels having been added to the orderbook this year. The significant amount of deliveries that took place this year is likely to have played a key role in this trend, as we noted 122 vessels being delivered, 126% more than in 2018. If we add to this the 143 units that are anticipated for delivery in 2020, it looks to be a set affair that the bearish sentiment regarding new orders will continue through into the new year.
Moving onto the smaller size segments, Yiannis Vamvakas said, it looks as though the Supramax/ Ultramax size has managed to hold onto much of its appeal, as we saw 44 new contracts placed during the year, just 10 less than 2018. The freight market here too may have been volatile, but with the range having been much thinner the perceived risk seems to have been considerably lower in the eyes of most. In terms of seasonality, the most active period was the May-June period, holding 57% of the total orders placed. Despite this, the orderbook to fleet ratio still stands at around 6.5%. Given that the freight market is showing signs of improving and coupled by the overall more dependable performance noted in this size segment, it is likely that we will continue to see interest for new orders sway this way more so than what we will see in some of the other size segments.
Moving on to the Handysize, Allied Shipping Research noted that, a much more stable market was seen, with 20 new contracts being added to the orderbook, a number almost identical to that of 2018. The orderbook has dropped on an annual basis by approximately 20%, while the new contracts to fleet ratio ended at 0.8%, while it is worth mentioning that the last order noted thus far was back in June. The slowdown in dry bulk newbuilding activity has undoubtedly been an encouraging factor as it boosts optimism that the supply side of the industry will not slip beyond manageable levels. However, the scheduled deliveries for 2020 are still at relatively high levels. As such it looks as though next year will prove pivotal in determine the longer-term prospects of the market.
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Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
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- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
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