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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, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodi ...
Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
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- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
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