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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, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
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Showing 2411 to 2415 news of total 6871 |
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- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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