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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, 11 May 15
CFR SOUTH CHINA COAL SWAP: DECLINED MOM AND WOW
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.46 (-0.90%) per MT month over month and US$ 0.28 (0. ...
Monday, 11 May 15
KOREA MIDLAND POWER INVITES BIDS FOR 140K MT OF 4600 NAR COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued a new tender to buy total 140,000 Metric Tons (MT) of Sub-bitumi ...
Sunday, 10 May 15
FREIGHT RATES TO REMAIN SOFT NEXT WEEK
COALspot.com: The freight market was flat to soft week over week except for the Cape Index which was up 7.32%. Cape index was closed at 616 p ...
Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered f ...
Friday, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
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- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Australian Coal Association
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
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