We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has fell ...
Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
|
|
|
Showing 3231 to 3235 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Australian Coal Association
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
|
| |
| |
|
