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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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Friday, 22 May 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT AT 16 MMST
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Thursday, 21 May 15
PORT OF NEWCASTLE ACHIEVED ITS BEST EVER TOTAL COAL EXPORT TURNOVER OF 159 MILLION TONS IN 2014
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $900 million ...
Thursday, 21 May 15
ATLANTIC PANAMAX MARKET STARTED TO IMPROVE SLOWLY - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week on the green last week, purely on the back of improved Capesize performance, while the rest o ...
Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of t ...
Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
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- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
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