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