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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, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
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- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
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