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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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Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
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- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Australian Coal Association
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
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