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Monday, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
 Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that today’s global orderbook appears less onerous than previously (at 16% of the fleet), capacity levels are still important, and a look at the future of the supply side can provide an idea of just how hard a balancing act the markets still face in today’s demand conditions.
Like The High-Wire?
An indicator combining capacity and demand elements gives an idea of how difficult it might be just to maintain the current supply-demand balance, before the surplus present in many sectors today can even be addressed. The graph shows a ratio which compares the orderbook as a percentage of the fleet to ‘current’ and ‘trend’ rates of demand growth in a selection of sectors (see graph description for details). At a high level, this broadly indicates how many years of demand growth the orderbook to be delivered over the next few years equates to, and how much the supply side will need to otherwise adjust to balance things out. In many cases, even after a sharp slowdown in ordering, this looks like a real high-wire act.
How Hard Does It Look?
The orderbook for oil tankers equates to 18% of the fleet, equivalent to 8 years of ‘current’ demand growth, so there could be some work to be done there to maintain today’s balance. However, it’s the bulkcarrier sector which really illustrates the impact of slower demand growth. Today’s orderbook, 15% of the fleet, equates to 11 years of ‘current’ demand growth. In the boxship sector, relatively faster trade growth (despite an historically slothful 2015) means that today’s orderbook equates to a perhaps more manageable 4 years of ‘current’ trade growth. Other sectors reinforce the impact of demand side issues. The LNG carrier orderbook equates to 14 years of ‘current’ trade expansion (although expectations might be for improved trade growth, and the figure drops to 3 years on the basis of the ‘trend’ rate), and for car carriers the figure stands at 13 years.
Balancing Acts
Of course, in market mechanics, it’s often the supply side which adjusts, and other factors not captured by the ratio used here can lend a hand. Demolition is one obvious factor, with, for example, the relative size of potential bulkcarrier capacity growth suppressed by record levels of demolition this year so far (14.1m dwt in Q1). Delay or cancellation of the orderbook also plays a role: 42% of start year scheduled bulkcarrier deliveries failed to enter the fleet in 2015. Changes in vessel productivity, such as adjustments to operating speeds, can also impact of the absorption of capacity in the future.
Still Walking The Tightrope
Nevertheless, shipping globally still appears to be walking a tightrope in the current demand environment. Today’s orderbook equates to 7 years of ‘current’ seaborne trade growth (a rate of 2.4%), though looks slightly less daunting (5 years) if demand growth was to reach the last decade’s ‘trend’ rate (3.4%). But in current demand conditions, even to maintain the status quo, there’s a significant supply-side balancing act to perform.
Source: Clarksons
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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 ...
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- Economic Council, Georgia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- PTC India Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Australian Coal Association
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
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