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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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Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Central Electricity Authority - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
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