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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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Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
Wednesday, 07 October 15
SHIPPING MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2015 and more specifically during the summer season has been rather remarkable. 421 v ...
Wednesday, 07 October 15
INDONESIA COAL SWAPS HAVE CONTINUED TO DECLINE, FALLING ALMOST 7% M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.23 (-5.51%) per t ...
Tuesday, 06 October 15
THE IMPACT OF LOW OIL PRICE ON THE SHIPPING INDUSTRY - LITERATED
The fall in global oil prices over the last one year has been beneficial to the shipping industry. The demand for oil tankers has picked up and the ...
Tuesday, 06 October 15
FOB RICHARDS BAY COAL SWAPS PLUNGE MORE THAN 6 PER CENT M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
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- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- GMR Energy Limited - India
- The University of Queensland
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
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