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Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
 Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olders carriers. In its latest weekly report, shipbroker Alibra Shipping noted that 2015 saw an upswing in Capesize spot rates during the first seven months of the year, peaking in early August, rallying briefly in September and declining for the rest of the year. According to Alibra, “this would seem to correspond with scrapping activity – owners sold many capes for demolition during the first half of the year but stopped scrapping as rates rebounded – which ultimately killed the market again. Since 2016 began, some 64 Capesize bulk carriers have been sold for demolition, compared to 66 during the same period last year – almost identical”.
Of course, one could raise the question if we could see the same trend in freight rates during 2016 as well. Attempting to answer that question, Alibra noted that “demolition is only half of the story. In 2015, only 55 new Capesizes (10,999,600 dwt in total) were delivered between January 1 and July 8. During the same interval this year, however, 104 Capesizes have hit the water (20,100,627 dwt in total), some of which will be vessels that were originally scheduled for delivery in 2015. This is equivalent to net fleet growth of 2.6% since January 1”, said the shipbroker.
Alibra added that new software has shown how sensitively Capesize freight rates respond when vessels are removed from the trading fleet. According to MarineTraffic.com’s draft software, it is estimated that 37 Capesize bulk carriers (6.6m dwt in total) were laid up around the world, as of June 5. Alibra said that “this number is equivalent to 2.4% of the 1,521 Capesizes currently on the water. Most interestingly, MarineTraffic has found the number of laidup Capesizes identified by its software roughly tracks the trend shown by the Baltic Dry Index (BDI) week-by-week. The highest level of Capesize lay-ups was shown during the week commencing April 18 (week 16) this year. The BDI hit an eight-month high of 715 points just a few days later, on April 27. Rebound? An estimated 30m dwt in Capesize tonnage will have to be scrapped during 2016 and 2017 in order to offset the same volume of tonnage awaiting delivery and create a “floor” for freight rates. Research says this would result in the average age of a cape sold for demolition from the current 21 years to just 18 years. This is pretty drastic – in shortening the cash flow period, early scrapping cuts future earnings and vessel values. Is the cape market really so bad that shipowners would opt for such drastic measures?”, wondered Alibra Shipping.
Meanwhile, in the demolition market this past week, Allied Shipbroking noted that “despite a slight upward correction in price levels being offered activity has held fairly minimal compared to what we were seeing earlier in the year. The heavy monsoon rains have created a significant temporary disruption in demand, while the Ramadan has also played its part in that regard. Things should start to improve slightly over the next couple of weeks, while things are also expected to be helped from the improvements noted in the dry bulk freight market, which should in theory keep demo candidates lists fairly tight. We might see some negative effects being brought in from the strengthening of the US Dollar. This should hamper end buyers confidence slightly with regards to their appetite for speculative buying, though once activity in the Indian Sub-Continent resumes this should be fairly well countered and prices should be able to keep more buoyant that what has been seen over the past couple of weeks”.
In a separate note, shipbroker Intermodal said that “demolition prices remained stable for yet another week, while in the absence of strong competition, Indian breakers managed to snap a couple of high ldt bulkers as the Ramadan kept breakers in both Bangladesh and Pakistan on the sidelines, fact that weighed down heavily on overall subcontinent activity last week. The fact that prices have hardly moved during the last month despite the significantly softer activity, is without a doubt a positive sign and once both holidays and the monsoon season in the subcontinent come to an end there is a good chance that we will start seeing firmer bids. The fact that the supply of dry bulk candidates has also been rather moderate lately and is expected to remain as such in the following weeks, should also act as additional support for prices, while in the first half of the year dry bulk demo sales decreased by 4% in terms of number of vessels compared to H1 2015, but increased 5% in terms of dwt, which means that bigger sized bulkers have been sold for scrap in 2016 so far compared to the same period last year. Prices this week for wet tonnage were at around 165-270 $/ldt and dry units received about 145-250 $/ldt”, the shipbroker concluded.
Source: Hellenic Shipping News
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Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
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Showing 2386 to 2390 news of total 6871 |
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- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
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