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