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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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Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
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- Merrill Lynch Commodities Europe
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- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
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- Kartika Selabumi Mining - Indonesia
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- Heidelberg Cement - Germany
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- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
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- Eastern Energy - Thailand
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- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
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- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
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- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
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- Medco Energi Mining Internasional
- The University of Queensland
- Vizag Seaport Private Limited - India
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- Interocean Group of Companies - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Australian Coal Association
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
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