We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
 While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings hit record lows, while asset prices fell sharply. In a bid to reduce their exposure to the depression, bulker owners have demolished and idled increasing volumes of capacity, while contracting activity has stalled. The market appears to have hit the bottom of the cycle.
Depressed Earnings
Over the past decade, bulkcarrier earnings in the January-February period have averaged 15% lower than the levels for the rest of the year, reflecting a seasonal slowdown in dry bulk trade. However, the weakness so far this year has been particularly stark. Average earnings dropped 41% y-o-y in January 2016, before hitting a record low of $3,666/day in February. Similarly, the Baltic Dry Index fell 48% y-o-y to a record low of 290 points in mid-February 2016, while the 1 year benchmark Capesize timecharter rate also slumped to a historical low of $6,025/day at the end of the month. In short, this has been the worst start to the year on record for bulker owners.
Slumping Prices
The depressed dry bulk market conditions and bleak outlook have also seen asset prices reach multi-year lows. The Clarksons Bulkcarrier Secondhand Price Index fell 39% y-o-y to 71 points in January 2016: the lowest level since 1987. By the end of January 2016, a 5 year old Capesize could be purchased for $23m, which was also the lowest level in 29 years. This represented 50% of the guideline Capesize newbuild price ($46m), compared to 67% in January 2015, further highlighting the depression in the market.
Getting Destructive
Collapsing bulker earnings and declining asset prices have exerted severe financial pressure on owners. As such, many have removed large volumes of tonnage from their active fleets. In the first 11 weeks of 2016, 134 bulkcarrier units of a combined 11.1m dwt were scrapped, which when annualised exceeds 52m dwt. Demolition is currently projected to surpass the 2012 record (33.4m dwt) in full year 2016. The total confirmed number of idled or laid-up bulkers has also increased firmly in the past six months, totalling 214 units of a combined 11.2m dwt by mid-March and accounting for around 1.4% of bulkcarrier fleet capacity.
Little Interest In Ordering
Meanwhile, bulker contracting has stalled in the year to date. While orders for 30 Valemaxes are expected to be confirmed this year, in total only 4 bulkcarrier orders of a combined 0.3m dwt were reported in the first two months of the year. This compares to 41 units of a combined 2.8m dwt in the same period in 2015.
So, the chronically imbalanced market fundamentals have seen earnings hit record lows and the market appears to be at the bottom of the cycle. Some might assume that the only way is up, but any real recovery in the dry bulk market is likely to require a significant readjustment of supply and demand trends over a sustained period of time. Overall, the dry bulk market seems in desperate need of this kind of shift to see better days.
Source: Clarksons
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
|
|
|
Showing 2471 to 2475 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- White Energy Company Limited
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
|
| |
| |
|
