We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 13 May 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The EU governments in an effort to face their economic crisis individually are facing lack of political cohesion. This reflects back to each econom ...
Tuesday, 12 May 15
FOB INDONESIA COAL SWAP; DECLINED M-O-M AND W-O-W
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 0 ...
Tuesday, 12 May 15
FOB RICHARDS BAY COAL SWAPS: LOST W-O-W; GAIN M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and decreased week over week.
The Q3 swap h ...
Monday, 11 May 15
HBA PRICE DIPS FURTHER; LOWEST RECORDED SINCE JANUARY 2009
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 61.08 per MT in May ...
Monday, 11 May 15
API 5 FOB NEWCASTLE COAL SWAP; INCREASED M-O-M; DECLINED W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.62 per MT (1.41%) month over month and lost US$ 0.88 week on w ...
|
|
|
Showing 3026 to 3030 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
|
| |
| |
|
