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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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Sunday, 18 October 15
THE BDI AND OTHER INDICES CLOSED OFF ON NEGATIVE NOTE THIS FRIDAY
COALspot.com: The BDI closed off on negative note this Friday compared to previous Friday's closing.
The BDI closed this Friday (16 Octobe ...
Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
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- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- CNBM International Corporation - China
- VISA Power Limited - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
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