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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 $2,000/day less than the annual average for 2012. It is therefore perhaps no surprise that demolition is surging.
The Uneven Distribution
There are several potential impacts of growth in demolition. The Chinese bulkcarrier fleet shrank in 2014, partly due to the government scrapping subsidy. The subsidy is currently set to end this year and with many of the vessels scrapped in the year to date being Chinese-owned, this could shrink the Chinese fleet further. Also, the faster pace of Handysize demolition in Q1 2015 has led the Handymax sector to consolidate its position as the largest in the dry bulk fleet in terms of vessel numbers.
An Interesting Scenario
One very important impact of the surge is the potential stemming of fleet growth. Total bulker scrapping is currently projected to increase by around 30% y-o-y, to reach 21.2m dwt in 2015. However, at the current pace of scrapping, demolition in Q1 2015 could approach a record level, and in the full year, over 35m dwt of bulkers would be scrapped, more than doubling last year’s total. This could slow growth in the bulkcarrier fleet to around 2.5% y-o-y, which would represent the slowest rate in more than a decade. In this scenario Capesize fleet growth would be limited to around 2-3%.
So demolition is surging, and could approach record levels, altering the make-up of the bulker fleet, in terms of age, the distribution across sectors and owner nationality. And whether records are broken or not this year, the increase in demolition will have a clear impact on the rate of fleet expansion.
Source: Clarksons | Hellenic Shipping News
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Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
Monday, 18 May 15
Q1' 16 API 8 CFR SOUTH CHINA COAL SWAP CLOSED HIGHER THAN Q3' 15 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.05 (2.10%) per MT month over month and US$ 0.53 (1.05%) pe ...
Sunday, 17 May 15
INDONESIA - INDIA FREIGHTS RATES EXPECTED TO FLAT TO SOFT NEXT WEEK
COALspot.com: The BDI was up by 10.45% and closed at 634 points week on week, while the Cape index saws big jump or up almost 55% for the same peri ...
Friday, 15 May 15
DRY BULK AND CONTAINER SHIPPING TO REMAIN WEAK, OUTLOOK FOR PORTS AND TANKERS POSITIVE - DREWRY MARITIME EQUITY RESEARCH
Global economy is in a gradual recovery mode, sending mixed signals to investors. Chinese economic data continues to remain weak as economy transit ...
Friday, 15 May 15
COAL PRODUCTION IN U.S DOWN 1.4 MILLION TONS FOR THE WEEK ENDING MAY 8
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
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Showing 3021 to 3025 news of total 6871 |
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- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- PTC India Limited - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
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