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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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Wednesday, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
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- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Eastern Coal Council - USA
- The University of Queensland
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
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