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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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Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...
Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry.
...
Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...
Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...
Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
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- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- The University of Queensland
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
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