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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, 05 October 15
Q1 & Q2 2016 DELIVERY SWAPS DECLINED M-M AND W-W THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.36 per ton (0.85%) month over month to US$ 42.12 per ton. The ...
Monday, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
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- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- The University of Queensland
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
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