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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, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
Wednesday, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
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- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- PowerSource Philippines DevCo
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