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Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
 The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, especially for coal cargoes, while supply, i.e. tonnage, has kept on increasing at a high rate. However, moving forward, these dire fortunes could be reversed, as owners are doing their best to limit supply, through newbuilding cancellations and delays and scrapping of older vessels.
In its analysis of the dry bulk market conditions during the first quarter of 2016, ship owner Golden Ocean noted that “the rates observed were below operating costs in all segments and were the lowest rates observed for a whole quarter over the last thirty years. According to the Baltic Exchange, average earnings for the Capesize segment (CS4TC index) were $1,438 per day compared to $6,944 per day in the previous quarter and $4,595 per day in the first quarter last year. Panamax vessels experienced average rates of $3,077 per day against $4,453 per day the previous quarter and $4,831 per day in the same quarter last year. Supramax vessels earned on average $3,824 per day compared to $5,716 during the fourth quarter of 2015 and $6,455 in the same quarter in 2015. Half way into the second quarter, the rates have increased so that the average so far is more or less in line with operating costs, at between $5,000 and $6,000 for all three segments”.
Meanwhile, as Golden Ocean noted, “asset values dropped significantly on the back of the low rates observed in the first quarter and some sales around year end. There has recently been a small up tick from the values observed earlier in the quarter, following decent amount of buyers inspecting vessels held for sale, in particular quality tonnage. The poor rates observed in the first quarter are due to the seasonal spike of deliveries at the start of the year combined with low trade volumes in January and February. Trade volumes have picked up during March and April, in combination with a slow down of new deliveries and continued strong scrapping. Except for the rates observed towards the end of April in the Capesize segment, earnings are still hovering around operating cost levels despite decent demand, clearly indicating the significant oversupply that the dry bulk market is experiencing at the moment. At the same time, the prompt reaction in rates to increased demand also indicates that there will be volatility going forward”.
According to Golden Ocean “at the start of 2016, the official order book for the full year was 85.4 mill dwt. Deliveries in the first quarter totalled 18.1 mill dwt, which represents 21% of the full year order book. However, as has been observed for many years, a significant part of the order book is delivered in the first quarter of each year. In 2015, full year deliveries totalled 48.6 mill dwt of which 19.3 mill dwt was delivered in the first quarter almost 40% of full year deliveries. For 2015 the official order book was 79.9 mill dwt at the start of the year and thus had a delivery ratio of just above 60%. Based on the market we are observing at the moment owners are doing their utmost to delay and cancel newbuilding orders and delivery ratio in 2016 could come in lower than in 2015. Currently we are observing a slippage rate of around 45% implying full year deliveries below 50 mill dwt. With the current market environment there should be limited new orderings for the coming years. In addition to the market itself, owners are struggling with their existing fleets and financing has become scarce. This will over time reduce the orderbook as a percentage of the fleet”.
At the same time, “scrapping activity, which is mainly a function of the spot market, has been brisk in the first quarter of 2016. In total 12.5 mill dwt has been scrapped during the quarter and the net fleet growth during Q1 is therefore 5.5 mill dwt, representing 0.7% growth relative to the fleet at the end of 2015. For March net fleet growth was zero and in April we have observed negative fleet growth for the dry bulk fleet as a whole. Supramax (vessels between 40,000 and 65,000 dwt) is the segment with highest fleet growth year to date, while Panamax has seen negative fleet growth and Capesize is neutral up to the end of April”, the ship owner concluded.
Source: Hellenic Shipping News
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Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
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- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
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