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.
|
|
Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
|
|
|
Showing 3056 to 3060 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
|
| |
| |
|
