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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
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- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
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