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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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Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- VISA Power Limited - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
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