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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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- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- The University of Queensland
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- PTC India Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
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