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