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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, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
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Showing 3101 to 3105 news of total 6871 |
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- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- VISA Power Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- The University of Queensland
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
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