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