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.
|
|
Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
|
|
|
Showing 2501 to 2505 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- The University of Queensland
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Eastern Energy - Thailand
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
|
| |
| |
|
