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