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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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Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
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- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- The University of Queensland
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
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