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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, 14 April 15
SUB-BIT FOB INDONESIA COAL SWAPS FOR Q4 DELIVERY CRASHES THROUGH $44
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.25 (4.77%) ...
Monday, 13 April 15
Q2 FOB NEWCASTLE COAL SWAP CLOSED AT $45.28 PMT; DECLINED 7.50% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.67 per MT (-7.50%) month over month and US$ 0.39 week on wee ...
Monday, 13 April 15
Q4 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 50.97
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.50 (-8.05%) per MT month over month and US$ 0.12 (-0 ...
Sunday, 12 April 15
INDONESIA TO INDIA FREIGHT RATE IS EXPECTED TO BE SOFT
COALspot.com: The freight market was steady, however the BDI was declined slightly week over week.
BDI dropped 1.36 pct and closed at 580 poin ...
Friday, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
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Showing 3076 to 3080 news of total 6871 |
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- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- The University of Queensland
- Malabar Cements Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
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- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
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- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
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