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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 $2,000/day less than the annual average for 2012. It is therefore perhaps no surprise that demolition is surging.
The Uneven Distribution
There are several potential impacts of growth in demolition. The Chinese bulkcarrier fleet shrank in 2014, partly due to the government scrapping subsidy. The subsidy is currently set to end this year and with many of the vessels scrapped in the year to date being Chinese-owned, this could shrink the Chinese fleet further. Also, the faster pace of Handysize demolition in Q1 2015 has led the Handymax sector to consolidate its position as the largest in the dry bulk fleet in terms of vessel numbers.
An Interesting Scenario
One very important impact of the surge is the potential stemming of fleet growth. Total bulker scrapping is currently projected to increase by around 30% y-o-y, to reach 21.2m dwt in 2015. However, at the current pace of scrapping, demolition in Q1 2015 could approach a record level, and in the full year, over 35m dwt of bulkers would be scrapped, more than doubling last year’s total. This could slow growth in the bulkcarrier fleet to around 2.5% y-o-y, which would represent the slowest rate in more than a decade. In this scenario Capesize fleet growth would be limited to around 2-3%.
So demolition is surging, and could approach record levels, altering the make-up of the bulker fleet, in terms of age, the distribution across sectors and owner nationality. And whether records are broken or not this year, the increase in demolition will have a clear impact on the rate of fleet expansion.
Source: Clarksons | Hellenic Shipping News
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Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
Tuesday, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
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Showing 3086 to 3090 news of total 6871 |
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- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- PTC India Limited - India
- Singapore Mercantile Exchange
- The University of Queensland
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
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