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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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Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
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- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- London Commodity Brokers - England
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
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