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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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Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- The University of Queensland
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
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