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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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Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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Showing 2421 to 2425 news of total 6871 |
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- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- The University of Queensland
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
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