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Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
 The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% in 2010 to just over 2% in 2015. In the short-term, fleet expansion is currently projected to slow further, but with only limited growth expected in dry bulk trade in coming years, can supply growth be brought back in line with expansion in demand?
Stunting The Growth
The depression in the dry bulk market, driven by weak demand and firm supply growth in preceding years, saw bulker owners scrap over 30m dwt in 2015, close to the record of 33m dwt in 2012. Meanwhile, deliveries remained fairly steady y-o-y at 49m dwt, down from 100m dwt in 2012. Estimated ‘non-delivery’ (the percentage of the start year orderbook scheduled for delivery during the year, but not delivered due to ‘slippage’ or cancellation) rose last year to 43%, up from an estimated 36% in 2014, limiting delivery volumes. Overall, these trends saw the pace of fleet growth shrink to 2.4%, the slowest rate since 1999. However, even this slow growth exacerbated oversupply, with seaborne dry bulk trade declining by 0.1% in 2015.
Out With The Not-So-Old
Bulkcarrier demolition is projected to remain firm this year, given the weak outlook for the market. There remains a sizeable volume (62.4m dwt) of bulkcarrier tonnage aged over 20 years, and owners have also shown a willingness to scrap increasingly younger units, with the average age of scrapped bulkers falling from 32 years in 2010 to 25 years in 2015. In the first eight weeks of 2016 alone, 93 units of 8.3m dwt were scrapped, up 77% y-o-y on an annualised basis, and demolition is currently projected to exceed 33m dwt this year.
Deliveries To Dive?
Despite the depressed market conditions, and expectations that slippage and cancellation will continue to significantly affect deliveries, a total of 49m dwt is again expected to be delivered in 2016. However, the more limited ordering volumes seen in 2014-15 have helped the orderbook to decrease, reaching an 8-year low in February 2016, and deliveries are now expected to drop in 2017 to 35m dwt.
How Low Do We Need To Go?
Overall, the gap between bulkcarrier deliveries and demolition is currently expected to remain fairly steady this year, with fleet growth projected to reach 2.0%. However, with dry bulk trade growth expected to be very limited at 0.3% in 2016, to restrict fleet expansion to this pace would require the equivalent of either deliveries easing to 36m dwt this year, 27% lower than the current projection, or demolition surging to 47m dwt, 40% higher than the current projection.
So, unless there are dramatic shifts in supply side trends in the rest of this year, it will be difficult to limit the pace of fleet expansion in 2016 to a level closer to dry bulk trade growth. There seems more scope for this in 2017, given current expectations for expansion of only 0.7% in the fleet. However, with dry bulk trade underperforming, even such a slow pace of fleet growth expected in the short-term might struggle to restore balance.
Source: Clarksons | Hellenic Shipping News
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Friday, 18 March 16
OUTLOOK ON GLOBAL SHIPPING SECTOR TURNS NEGATIVE AS SUPPLY-DEMAND GAP WIDENS AND EBITDA DECLINES - MOODY'S
Moody’s Investors Service (Moody’s) has changed its outlook on the global shipping sector to negative as it expects supply growth to ou ...
Friday, 18 March 16
DRY BULK MARKET HAS LITTLE TO LOOK FORWARD TO FROM CHINA AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s rebound is long overdue, but when it comes, it won’t be because of China’s strong demand for commodities, o ...
Friday, 18 March 16
COAL PRODUCTION IN THE UNITED STATES SLIGHTLY DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.5 million shor ...
Thursday, 17 March 16
THE PANAMAX MARKET SEEMS TO BE A BIT TOPPISH THIS WEEK - FEARNLEYS
Cape
There are challenging days with rates or less unchanged from last week; West Australia to China still below US$ 3 pmt, and Tuarao to China i ...
Wednesday, 16 March 16
OIL SUPPLY OUTPACES DEMAND ON ANY GIVEN DAY, AND BILLIONS OF BARRELS OF OIL ARE BEING STORED RATHER THAN CONSUMED - CHRISTOPHER
Oil producers have turned to the concept of limiting their output to January levels as a certain form of action to boost prices that have fallen mo ...
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Showing 2516 to 2520 news of total 6871 |
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- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Planning Commission, India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Australian Coal Association
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
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