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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, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
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- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
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