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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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Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
Monday, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
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- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
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