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 ($46m), compared to 67% in January 2015, further highlighting the depression in the market.
Getting Destructive
Collapsing bulker earnings and declining asset prices have exerted severe financial pressure on owners. As such, many have removed large volumes of tonnage from their active fleets. In the first 11 weeks of 2016, 134 bulkcarrier units of a combined 11.1m dwt were scrapped, which when annualised exceeds 52m dwt. Demolition is currently projected to surpass the 2012 record (33.4m dwt) in full year 2016. The total confirmed number of idled or laid-up bulkers has also increased firmly in the past six months, totalling 214 units of a combined 11.2m dwt by mid-March and accounting for around 1.4% of bulkcarrier fleet capacity.
Little Interest In Ordering
Meanwhile, bulker contracting has stalled in the year to date. While orders for 30 Valemaxes are expected to be confirmed this year, in total only 4 bulkcarrier orders of a combined 0.3m dwt were reported in the first two months of the year. This compares to 41 units of a combined 2.8m dwt in the same period in 2015.
So, the chronically imbalanced market fundamentals have seen earnings hit record lows and the market appears to be at the bottom of the cycle. Some might assume that the only way is up, but any real recovery in the dry bulk market is likely to require a significant readjustment of supply and demand trends over a sustained period of time. Overall, the dry bulk market seems in desperate need of this kind of shift to see better days.
Source: Clarksons
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 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 ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
|
|
|
Showing 2521 to 2525 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Central Electricity Authority - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
|
| |
| |
|
