We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
 With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side changes.
April 4, 2016. In terms of annual average fleet employment rates, the dry bulk market has now dropped to levels last seen over 20 years ago in 1992, according to the latest quarterly dry bulk market forecast from MSI*.
However timecharter rates are much worse now ($5,700/day for a Panamax) than they were then ($9,500/day). It is necessary to look back to 1986 to see nominal timecharter rates as low as today in annual average terms.
The spot market is in even worse condition: according to a theoretical voyage cost calculation across a representative sample, almost a fifth of aggregate earnings for Capesize vessels on the spot market would have been negative this year to date, taking into account individual vessel fuel consumption characteristics.
Asset values at scrap-plus
With earnings currently at OPEX or below, even 15 year old vessels are now being valued at their realisable scrap value, plus a nominal mark-up for vessel-specific condition. Age beyond 15 years is now purely a number and has little impact on value. The extreme levels to which prices for old vessels have collapsed can be seen in the Chart below, which compares the current second hand Panamax vessel values in terms of Net Replacement Value (NRV) with historical ranges.
Thoughts are no longer fixated on how low earnings and prices will fall – the general consensus is that both are at or near the floor. The focus is now on the shape of the downturn – or rather how long it will last. First and foremost is there any hope for bulker earnings and prices in 2016?
In terms of downward momentum, the good news is that the end is nigh with an expectation that second-hand prices will bottom out at levels marginally below current values during 2Q 2016 for almost all ages and sizes of dry bulk carriers.
This is underpinned by expectations of a minor rate correction in Q2, driven by a seasonal uptick in iron ore imports by China and strong South American grains exports. Enthusiasm should be tempered for the remainder of this year, however; the outlook for dry bulk supply/demand fundamentals in aggregate for 2016 is far from promising, with supply growth set to more than offset demand growth by a small margin.
Changing demand dynamics
The story is not much brighter for beyond this year – it is not until 2018 before we see any sustained improvement in market balances. Moreover, there are significant risks on the downside to this view.
In MSI’s latest dry bulk report we present a scenario in which plausible downside risks to MSI’s forecast for Chinese and Indian coal imports and Chinese iron ore imports are realised, including a robust supply-side response. Under this scenario, we would not anticipate an uptick in market balances or timecharter rates before 2020.
Source: Maritime Strategies International
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
Monday, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
|
|
|
Showing 2491 to 2495 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Planning Commission, India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
|
| |
| |
|
