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