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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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Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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Showing 3106 to 3110 news of total 6871 |
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- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
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