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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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- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
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