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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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Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Planning Commission, India
- The University of Queensland
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
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