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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, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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Showing 2436 to 2440 news of total 6871 |
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- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Planning Commission, India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
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