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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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Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
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- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Planning Commission, India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Australian Coal Association
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
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