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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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Thursday, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
Wednesday, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
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Showing 2531 to 2535 news of total 6871 |
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- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- The University of Queensland
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
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