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Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
 With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk newbuilding activity. New ordering activity has been curtailed significantly (especially when compared with the two preceding years) and the worldwide orderbook has significantly deflated during the past 12 months, as a result of the excessive volatility that has dominated the freight market this year, Allied Shipping Research in its latest weekly report.
According to Yiannis Vamvakas, Research Analyst of Allied Shipping Research, beginning with the kingpin of the dry bulk sector, the Capes, has definitely had a remarkable year, with the first half of the year seeing rates hover for several weeks at levels as low as US$3,500 per day, while during the final part this same market managed to reach a peak of just above US$38,000 and held for several months above the US$ 20,000 mark. This instability in the market seems to have enhanced concerns amongst potential investors and as a result we have seen a mere 138 new newbuilding contracts in the year so far.
Yiannis Vamvakas further noted that, this is a significant decline compared to 199 orders that were placed last year, as well as below the 147 orders made back in 2017. As a result, the orderbook has scaled back during the year by approximately 18%, while the orderbook to fleet ratio now holding at around 11%. With 122 vessels expected to be delivered in 2020, second thoughts will be lingering as to the prospects of placing any further new orders any time soon. A similar pattern was to be seen in the Panamax segment, with both the number of new contracts and the total orderbook having thinned out compared to last year. Interest for newbuildings has dropped, with a meagre 22 new vessels having been added to the orderbook this year. The significant amount of deliveries that took place this year is likely to have played a key role in this trend, as we noted 122 vessels being delivered, 126% more than in 2018. If we add to this the 143 units that are anticipated for delivery in 2020, it looks to be a set affair that the bearish sentiment regarding new orders will continue through into the new year.
Moving onto the smaller size segments, Yiannis Vamvakas said, it looks as though the Supramax/ Ultramax size has managed to hold onto much of its appeal, as we saw 44 new contracts placed during the year, just 10 less than 2018. The freight market here too may have been volatile, but with the range having been much thinner the perceived risk seems to have been considerably lower in the eyes of most. In terms of seasonality, the most active period was the May-June period, holding 57% of the total orders placed. Despite this, the orderbook to fleet ratio still stands at around 6.5%. Given that the freight market is showing signs of improving and coupled by the overall more dependable performance noted in this size segment, it is likely that we will continue to see interest for new orders sway this way more so than what we will see in some of the other size segments.
Moving on to the Handysize, Allied Shipping Research noted that, a much more stable market was seen, with 20 new contracts being added to the orderbook, a number almost identical to that of 2018. The orderbook has dropped on an annual basis by approximately 20%, while the new contracts to fleet ratio ended at 0.8%, while it is worth mentioning that the last order noted thus far was back in June. The slowdown in dry bulk newbuilding activity has undoubtedly been an encouraging factor as it boosts optimism that the supply side of the industry will not slip beyond manageable levels. However, the scheduled deliveries for 2020 are still at relatively high levels. As such it looks as though next year will prove pivotal in determine the longer-term prospects of the market.
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Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
Monday, 02 December 19
OPEC PREPS FOR OIL'S 2020 BALANCING ACT - WOOD MACKENZIE
What steps should OPEC and its non-OPEC partners take to keep the market in balance in 2020? Ahead of OPEC’s meeting in Vienna on 5 and 6 Dec ...
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- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
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