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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, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
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- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
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