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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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Friday, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
Thursday, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
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Showing 2526 to 2530 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
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