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.
|
|
Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
|
|
|
Showing 3266 to 3270 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- MS Steel International - UAE
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
|
| |
| |
|
