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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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- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
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