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