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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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Thursday, 04 June 15
DRY BULK MARKET FAILED TO OFFER ANY POSITIVE SURPRISES - INTERMODAL
COALspot.com: This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring belo ...
Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increase ...
Tuesday, 02 June 15
FOB INDONESIA COAL Q3 SWAP ADVANCED 1.73% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and lost week over week, this past week.
The Q3 swap was climbed ...
Tuesday, 02 June 15
FOB RICHARDS BAY COAL SWAPS; Q3'15 CLOSED HIGHER THAN Q1'16
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 up month over month and week over week.
The Q3 swap was up US$ 0.80 (1 ...
Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
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- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- White Energy Company Limited
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
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