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