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Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
 In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from the 23m dwt peak in orders in December 2007, and probably the sharpest decline in recent decades. Not really a surprise in a market where Capesize bulkers are struggling to earn $4,000/day, but a timely relief to investors with ships on the order book.
Investment Fever
This investment collapse marks the end of a remarkable phase of bulk carrier history. During the last decade, 724m dwt of new bulkers have been ordered, around 70m dwt/year. Just to put that in perspective, during the previous decade ordering averaged about 20m dwt/year.
The 5 years from 1996 to 2001 were disappointing to investors, who ordered only 1.2m dwt/month. At the time this was seen as normal, and included a spike in 1999, when investors snapped up Panamax bulkers for $19-$22m. These were probably the most profitable bulkers ordered in the industry’s post-war history. Upon delivery they sailed straight into the bulk shipping boom. Proof that “crazy investors” are not always crazy.
Softly, Softly
The next phase from 2002 to November 2006 was quite restrained, considering the rise in freight rates. Ordering edged up, averaging 2.8m dwt/month. As earnings eased in 2006, many assumed the boom was over, but they were wrong and what happened next was unprecedented. As earnings escalated owners threw caution to the wind, and the big bulker cash machine drew investors from outside shipping. In December 2007, ordering peaked at 23m dwt, and in 2007 to 2014, investment averaged 6.8m dwt/month (81m dwt/year), an astonishing number for a period mostly in global recession.
Carry On Investing
Despite the onset of the global downturn in 2008, two more bulker investment spikes followed in 2010 and 2013. With surplus bulker capacity, and China’s growth engine easing off, it’s hard to explain this investment on strictly economic grounds. Easier, perhaps, to understand the change in expectations. The memory of spectacular bulker earnings had been fresh in the minds of some investors, but a decade later and that dream is fading.
The collapse in bulkcarrier investment is a particular problem for shipyards. Many builders in China and Japan surfed the wave of bulkcarrier investment and bulkers still account for around half of tonnage on order globally. In today’s sluggish world economy, that is going to be a difficult gap to fill. The fact that bulker prices are around 5% down this year, and ordering has virtually stopped tells its own story.
Big Bulker Investment Boom
So there you have it. The spectacular run of dry bulk investment which kicked off in early 2003 has finally ended. Then China’s imports were growing at 27% a year, a big difference from the 3% growth in 2014. This is disappointing, but as serious shipping investors know, in good markets and bad, there’s still an awful lot of cargo that has to be moved around the world – it’s just a matter of who moves it.
Source: Clarksons | Hellenic Shipping News
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Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
Tuesday, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
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Showing 3006 to 3010 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Australian Coal Association
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
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