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