We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
|
|
|
Showing 2426 to 2430 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
|
| |
| |
|
