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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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Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
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 ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
...
Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
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- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
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