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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
 The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressure on owners, many of whom are subject to earnings close to operating costs. This has triggered a surge in bulkcarrier demolition since the beginning of 2015. If the current rate of scrapping were to continue, there would be a clear impact on dry bulk fleet growth.
A Surge In Scrapping
Bulker demolition has surged in recent months, due to an oversupplied fleet, cooling global dry bulk trade growth and low vessel earnings. A total of 78 vessels (of a combined 5.9m dwt) were reported scrapped in the first two months of 2015, equivalent to 35% of total bulkcarrier demolition in 2014. Capesize scrapping totalled 3.3m dwt, accounting for 56% of all bulker demolition in the two month period, already equivalent to around 80% of scrapping in the sector last year. The average age at which bulker vessels were scrapped has thus fallen to below 25 years for the first time this century.
How Does It Compare?
The annual record level of bulker demolition was 33.4m dwt in 2012, coinciding with a 30% y-o-y drop in average earnings. While earnings were weak, some market indicators were considerably better than they are today. Seaborne dry bulk trade grew 7% (with 3% projected for this year) and the Baltic Dry Index averaged over 900, far above the record low of 509 reached in February 2015. In the first two months of 2015 overall bulker earnings averaged $6,545/day: around $2,000/day less than the annual average for 2012. It is therefore perhaps no surprise that demolition is surging.
The Uneven Distribution
There are several potential impacts of growth in demolition. The Chinese bulkcarrier fleet shrank in 2014, partly due to the government scrapping subsidy. The subsidy is currently set to end this year and with many of the vessels scrapped in the year to date being Chinese-owned, this could shrink the Chinese fleet further. Also, the faster pace of Handysize demolition in Q1 2015 has led the Handymax sector to consolidate its position as the largest in the dry bulk fleet in terms of vessel numbers.
An Interesting Scenario
One very important impact of the surge is the potential stemming of fleet growth. Total bulker scrapping is currently projected to increase by around 30% y-o-y, to reach 21.2m dwt in 2015. However, at the current pace of scrapping, demolition in Q1 2015 could approach a record level, and in the full year, over 35m dwt of bulkers would be scrapped, more than doubling last year’s total. This could slow growth in the bulkcarrier fleet to around 2.5% y-o-y, which would represent the slowest rate in more than a decade. In this scenario Capesize fleet growth would be limited to around 2-3%.
So demolition is surging, and could approach record levels, altering the make-up of the bulker fleet, in terms of age, the distribution across sectors and owner nationality. And whether records are broken or not this year, the increase in demolition will have a clear impact on the rate of fleet expansion.
Source: Clarksons | Hellenic Shipping News
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Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
Tuesday, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
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Showing 3006 to 3010 news of total 6871 |
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- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- White Energy Company Limited
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Marubeni Corporation - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
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