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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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Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
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- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Australian Coal Association
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
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