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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 $2,000/day less than the annual average for 2012. It is therefore perhaps no surprise that demolition is surging.
The Uneven Distribution
There are several potential impacts of growth in demolition. The Chinese bulkcarrier fleet shrank in 2014, partly due to the government scrapping subsidy. The subsidy is currently set to end this year and with many of the vessels scrapped in the year to date being Chinese-owned, this could shrink the Chinese fleet further. Also, the faster pace of Handysize demolition in Q1 2015 has led the Handymax sector to consolidate its position as the largest in the dry bulk fleet in terms of vessel numbers.
An Interesting Scenario
One very important impact of the surge is the potential stemming of fleet growth. Total bulker scrapping is currently projected to increase by around 30% y-o-y, to reach 21.2m dwt in 2015. However, at the current pace of scrapping, demolition in Q1 2015 could approach a record level, and in the full year, over 35m dwt of bulkers would be scrapped, more than doubling last year’s total. This could slow growth in the bulkcarrier fleet to around 2.5% y-o-y, which would represent the slowest rate in more than a decade. In this scenario Capesize fleet growth would be limited to around 2-3%.
So demolition is surging, and could approach record levels, altering the make-up of the bulker fleet, in terms of age, the distribution across sectors and owner nationality. And whether records are broken or not this year, the increase in demolition will have a clear impact on the rate of fleet expansion.
Source: Clarksons | Hellenic Shipping News
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Tuesday, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
Monday, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
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Showing 3206 to 3210 news of total 6871 |
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- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- The University of Queensland
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Planning Commission, India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
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