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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 very pleased Clarksons has once again delivered a robust performance, Clarkson said, in its preliminary results for the twelve months ended 31 December 2015.
Clarksons further noted that, Key to this has been sticking to our strategy of ‘best in class’ service offer, underpinned by unique breadth, global reach and the expertise of our people. Without losing sight of the really important day-to-day service, difficult times often require new solutions. The integrated tool box now available to clients, combined with real execution expertise, has been key to these results and is also essential for the way forward.
According to Andi Case, Chief executive of Clarksons, “In what has been an incredibly challenging year across our markets, Clarksons has delivered a robust performance. Offshore has experienced the most challenging environment, whereas significant movements in commodity prices have changed trade flows, which in turn has created both positive and negative impacts to shipping demand as the volatility has played out. Throughout, our ‘best in class’ service offer, underpinned by unique breadth, global reach and the depth of expertise, has enabled us to not only be at the forefront of activity in the markets, but benefit from a flight to quality as operators look to work with the most experienced and creative solution providers in the industry.
“Once again, seaborne trade grew in 2015. However, the primary concern remains the oversupply of tonnage in a number of the shipping markets, combined with the additional challenge of debt and equity funding increasingly witnessed across the global shipping industry. The geo-political and macro-economic environment remains very uncertain and, as such, we do not anticipate any changes to our markets in the near term. However our business model has proven to be robust and the strategic advances we have made in 2015, coupled with our strong balance sheet, ensure that we are ‘fit for the future’. As we continue to see building blocks for the creation of healthier shipping markets, we feel best placed to capitalize on new opportunities.”
Clarksons completed the acquisition of RS Platou ASA (Platou), a leading international broker and investment bank, focused on the offshore and shipping markets On 2 February 2015.
According to Clarksons, through this acquisition Clarksons combined two leading businesses and highly experienced and proven management teams to create a fully integrated offer across shipping and offshore, broking and banking. The Clarksons' board firmly believes that this deal sets new standards in the broking industry. The integration of two businesses has continued at great pace over the course of the year and is now effectively complete.
Outlook
The challenges witnessed across the global shipping markets have continued into 2016. The macro-economic environment remains very uncertain and as such we do not anticipate any changes to our markets in the near term, Clarksons noted in its preliminary results for the twelve months ended 31 December 2015.
The broker further said, despite this backdrop, growth remains a central plank of our strategy. Market turbulence continues to drive a flight to quality which, as the market leader, we have benefited from. It has also encouraged the consolidation we have seen in the industry in recent years and of which we have been at the forefront. Over the course of 2015 we have taken significant strides to strengthen the fully integrated Clarksons’ offer with the very best people supported by valued research and unique technology, positioning our business for the long-term.
“ challenge and opportunity have been our watchwords in 2015. The global shipping and offshore markets have faced severe challenges throughout the course of the year as the shift in oil and other commodity prices, coupled with the macro-economic environment, gave rise to a consequential change in the demand/supply balance in many market sub-sectors. Whilst these dynamics have regularly made global news headlines in 2015 and their impact has undoubtedly been felt by all connected to the sector, we must remember that ours is an industry which has experienced unparalleled market volatility over the years. At Clarksons, our long-standing strategic focus on developing ‘best in class’ client service, coupled with our unique product breadth and global reach, has allowed us to face these headwinds again and continue to invest in our business, ensuring we are positioned for future opportunity in whichever marine market it shows, says Clarksons' Chief executive in his review.
He furhter noted that, despite the turbulent market environment, we have remained focused on our strategy for long-term growth and at the start of 2015 we were delighted to announce the completion of the transformational acquisition of RS Platou ASA (Platou) which has taken our capability and client offer to a new level. Both businesses are incredibly complementary with very little overlap in terms of service offer and geographic reach. The pace of integration has been good and over the course of the year we have successfully integrated our two businesses. Where each company had operations in the same city; Oslo, New York, Singapore and Dubai, we have brought together our teams into one office. We now have international reach across 20 countries through 46 offices, underpinning our ability to provide clients with invaluable global reach and insight at a local level.
As our business stands today our truly integrated service spans broking, financial, support and research in all the key global shipping and offshore sectors and across all areas of financing; public equity, private equity, debt capital markets, M&A, restructuring project finance and bank debt advisory. During the year we completed the rebranding of our broking and financial services operations as Clarksons Platou to reflect the strength of both brands in their respective marketplaces. This has further enhanced our ‘best in class’ position as we are now a market leader in each of our operations.
In the multi-cyclical shipping markets, this breadth of product offer is vital as our performance in 2015 has shown. The dry cargo markets have remained severely depressed, reflecting the slowdown in Chinese economic output, and the low oil price continues to put offshore operators under significant pressure. However, in contrast, the tankers, specialised products and gas markets have all performed well and the Clarksons teams have been at the forefront of market activity, once again taking increased market share.
As we highlighted over the course of the year, activity levels in the maritime capital markets have been negatively impacted. These markets became increasingly difficult in the second half of 2015 and volumes across Clarksons Platou Securities were substantially down on 2014. However, our teams have worked hard to maintain their leading positions for capital raising in the energy and maritime industries and completed a significant proportion of the corporate activity which took place in the sector. It is encouraging to see that even in these very difficult markets we have still been able to leverage our product portfolio and work closely with clients from our broking and support businesses, supporting them on the execution of their overall strategies.
Our strong client relationships have been built through many years of being the market-leading provider. In tighter, more difficult markets there is often a move to work with the teams who have the expertise, market understanding and placing power to execute in the most difficult of markets and can fully support clients across all their service requirements.
Research and analysis continue to play a crucial role in underpinning our full service client offer. We are the industry’s leading provider of data and market intelligence on the shipping and offshore industries and our trusted research team is by far the largest commercially-led unit in the maritime world. Despite the challenging markets, the increasing strength of our research business reflects the importance we and our clients place on this valuable market insight.
Our long-standing focus and investment in technology has also ensured that the wealth of information across our business can be shared globally, further strengthening the quality of the offer and services that we can provide to our clients on a local basis. This is evident throughout all of our offices where open plan design and technology infrastructure is designed to facilitate the sharing of knowledge and expertise across both our different business divisions and global network to ensure a totally integrated and consistent global offer.
We are a people business. The quality of the people in our business is exceptional and the integration of the Platou team has strengthened that further. The ‘Can Do’ attitude of our combined team, their professionalism, dedication, commitment and sheer determination has been remarkable and allowed us to seize opportunities even in difficult markets and I would like to thank each and every one of them for their hard work over the course of the year.
As we look forward to 2016, the market outlook remains supressed and the challenges in the dry cargo and offshore markets continue to dominate overall sentiment. However, our business model has proven to be robust and the strategic advances and investments we have continued to make ensure that we are ‘fit for the future’. As we continue to see building blocks for the creation of healthier shipping markets, we feel best placed to capitalise on new opportunities.”
Dry cargo – Clarksons View
The dry cargo market endured one of its most difficult years in 2015, experiencing lows not seen since the mid-1980s. The Baltic Dry Index (BDI) established a new all-time low in February 2015 which has since dropped further in 2016. Charter rates across all four main vessel segments hovered around cash operating costs, causing a substantial decline in fleet valuations and exerting pressure on shipowner balance sheets.
The main cause of the weakness has been the slowdown in industrial activity within China, which has had a pronounced impact on the seaborne trade of dry commodities. China represents nearly 40% of the major bulk trade of iron ore, coal and grain and accounts for two-thirds of the iron ore trade alone. In 2015 total global dry cargo trade is estimated to have remained flat with levels from 2014, a material change from the 5-7% growth rate seen during the previous four years.
The dry cargo fleet grew by a net 3% in 2015 after taking into account a relatively high 4-5% of scrapping. Charter rates remained at low levels, irrespective of this scrapping, as the lack of any demand growth meant additional newbuilding tonnage could not be absorbed, Clarksons says.
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Tuesday, 15 March 16
PORT OF NEWCASTLE SHIPPED 12.78 MMT OF COAL IN FEBRUARY 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped AU$1,110.5 mi ...
Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
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Showing 2521 to 2525 news of total 6871 |
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- Agrawal Coal Company - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
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