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