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Monday, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the past few months, most notably since the start of 2015, which is leading most owner to a complete overhaul of all aspects that impact the supply of tonnage. As such, scrapping activity and the reorganization of the newbuilding delivery programme have intensified over the past few months, leading to a hold back of the growth rate of the fleet.
Yet, according to Allied Shipbroking’s latest weekly report, “what will inevitably dictate the course of the market going forward will be the rate of new contracting that takes place, as even if we take steps to counter the effects of the current order-book, their effects are limited if we continue to see the number of vessels on order in-creasing or even holding at their current numbers”.
According to Mr. George Lazaridis, Head of Market Research & Asset Valuations with Allied Shipbroking, “to the dismay of the shipbuilding industry as a whole, new contracting has been consid-erably marginalised by shipowners and potential investors. New orders have slowed down to a trickle, with the latest figures pointing to a total of only 329 units of all ship types being ordered in the period between January and May. This is a serious reduction compared to previous years, showing a fall of 61.7% compared to the same period in 2014 and a 55.9% compared to 2013″.
Of course, as Lazaridis notes, “one may say however that this reduction, though considerable in size, might well be attributed solely to a lack in appetite for dry bulkers. This is partly true, with dry bulk orders dropping during this five month period by 78% compared to 2014 and by 70% compared to 2013. Nevertheless, the lowered appetite for new ordering has not been limited to just dry bulkers. Tankers, which have been showing off stellar results in terms of freight earnings this year, have not been able to generate investor interest for new orders to the extent that they had in the past”.
He added that “new contracts have dropped by 40.9% and 48.8% compared to 2014 and 2013 respectively. A point to note however, is that a large chunk of the dry bulk orders that have been switched during this year have been changed over to tanker orders, adding as such to the orderbook without the placing of “new” contracts so to speak. Another sector which has seen additions through the switching of dry bulk orders has been the containership sector, though here it seems that new contracts have been holding at a relatively better pace, falling short by only 26.5% compared to 2014 and 30.1% com-pared to 2013. Finally the Gas sectors, which have seen an extraordinary rebirth in the volume of new contracts being placed during the past 3-4 years, have also been met with scepticism during 2015. New orders here dropped by 69.4% and 55.2% compared to 2014 and 2013 respectively”.
So as we can tell it has been a very difficult year so far for shipbuilders. Lazaridis said that “the main question is as to what extent can this trend continue as we move forward? and with some sectors in the shipping industry showing good earnings results, what is holding poten-tial buyers back from placing new contracts? With the poor performance in the dry bulk market having had a considerable influence on all shipowners and with the global mar-kets struggling to show signs of more prosperous times ahead, it seems that most feel more comfortable to keep a conservative approach in regard to new contracting. At the same time secondhand asset prices have been viewed more favourably during the past five months as the discounts offered are considerable compared to the respective of-fered newbuilding prices. What’s more and as a final point, many potential buyers might well be waiting for further discounts to be offered down the line by shipbuilders, as pressure mounts for them to upkeep their orderbook alive” he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
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- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
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