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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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Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- CNBM International Corporation - China
- The University of Queensland
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- GMR Energy Limited - India
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