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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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Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
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Showing 3146 to 3150 news of total 6871 |
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Bhatia International Limited - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
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