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Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of global economy, trade and demand. “An industry trying to re find itself” has been the title phrase that best describes shipping during the past 12 months, said Allied Shipbroking in its latest weekly report. “After an extraordinary decade were the industry gained not only from fast paced world economic growth but also from the opening of trade and bolstering of largely dispersed supply chains, international trade volumes managed to grow at an average rate which was twice as fast as that of the world economy. This self-feeding super cycle caused great escalation in the movement of commodi-ties as well as finished products, driving demand for shipping to new highs”, Allied noted.
As George Lazaridis, Head of Market Reseach & Asset Valuations pointed out, “this was a cycle in the market which like any other was not meant to last forever and as we moved towards the end of 2011 it was already starting to become evident that growth in glob-al trade volumes was set to fall to levels far below the long-term average of 5% a year. During 2015 global trade volumes grew by 2.58% year-on-year, while the average rate seen since 2012 has been 2.49% and has rarely even reached the 5% figure”.
Lazaridis notes that “all this has meant that shipping has had to restructure itself in order to reflect and follow this new trend. Shipping is driven by demand and must always follow the prevailing trends seen in global trade. With most in the industry being used to the excessive growth rates witnessed in the 2003-2007 period, it has proven that the rehabilitation period will last much longer then what we had seen during previous cycles. It is almost as if many watch in disbelief that the high paced growth years are over and will not be seen again soon. A good example of this had been the large scale ordering that was undertaken during 2010 as well as the more recent ordering spree of 2013-2014″.
This however have started to change. As Allied’s analyst pointed out, “new order contracting has all but vanished during 2015 and scrapping along with orderbook cancellations and delays has helped dampen fleet growth to levels that better match that of global trade. All this has been a bigger issue for the dry bulk market which has accounted for ever less percentage in the growth of world trade (notable that crude oil and oil products have accounted for some of the largest gains during the past 12 months) but even saw the well placed actions undertaken by the market as a whole has started to show signs of bearing fruits”.
Allied said that “Capesize freight rates this week noted one of their fastest paced increases after a seasonal influx of cargoes was matched by few open vessels leaving traders to scramble in order to cover their requirements. With the Capesize Fleet having witnessed a 0.07% year-on-year increase (essentially only 1 more vessel than what we were seeing last September) the market has already start to rebalance better matching the average requirements put out during the seasonal cycles of the year”.
Lazaridis said that “so, there you have it, there is a way out of the gloomy market downturn but it involves a redefining of how we view the markets rather than waiting for another global trade super cycle. The dangers are now more placed in the hands of the industry itself and its ability to revert from “shooting itself in the foot” so to speak. With the shipbuilding industry having also been forced into a corner these past months, progress has been made in preventing further ordering sprees such as those mentioned earlier as ship-building capacity has also decreased somewhat. If we are able to keep fleet growth rate under cap and closer to what global trade growth dictates, then we might just be closer to more promising freight market levels steering well away from the levels we had been seeing during the first half of 2015:, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
Wednesday, 21 October 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In today’s dry bulk market, both freight rates and asset prices are creating mixed feelings to seasoned ship owners, who tend to instinctivel ...
Wednesday, 21 October 15
INDONESIAN COAL MINER BUKIT ASAM POSTS POSITIVE PERFORMANCE DURING FIRST THREE QUARTERS OF 2015
COALspot.com: Indonesian publicly listed and state controlled coal miner PT. Bukit Asam has announced that, the company’s coal sales up 8 per ...
Wednesday, 21 October 15
LOWER DEMAND HIT Q1' 16 INDONESIA COAL SWAPS
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 1.88 (-4.71%) per t ...
Tuesday, 20 October 15
SHIPBROKER SEES CAPESIZE RATES EASILY REACHING $25,000/DAY BY YEAR-END : NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future course of the dry bulk market has been troubling market participants for quite some time now, as the “elusive” freight rate ...
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- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- PTC India Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
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