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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, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
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- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
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