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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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Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
Wednesday, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
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$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
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- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Planning Commission, India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
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