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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, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
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Showing 3051 to 3055 news of total 6871 |
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- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- White Energy Company Limited
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
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