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Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
 It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports to anxious parents. With the spread of challenges facing the industry, it’s unlikely the shipping markets would achieve many top grades. However some sectors might still achieve an “A” for effort and this week’s analysis reviews the markets’ performance in the first half.
Must Do Better!
Our Graph of the Week compares performance in the first half of 2016 to the averages since the financial crisis, as a barometer of performance against trend. First on the graph is the ClarkSea Index, our average earnings index covering all major sectors, which is 18% down on the average since 2009 and 30% compared to 1H 2015. The index actually finished the mid-year at just $8,575/day, close to its all time low of $7,444/day. Clearly room for improvement.
Heading For Re-Sits?
With widely reported historical lows in the bulker sector in the first half, Capes averaged below $5,000/day in 1H 2016, some 76% below the average since 2009. Containerships fared little better, slumping to 54% below trend while offshore rates were also almost 50% down on trend and generally hovering around OPEX levels. The prevalence of lay-up and stacking makes offshore arguably the most challenged sector at present. LPG rates also moved below trend, with VLGCs averaging $32,000/day, albeit following their stellar performance of 2015. Meanwhile trade is heading towards more muted growth with an expectation of 2.2% in 2016 compared to a trend rate of 3.2%.
“A” For Effort
Reduced fleet growth (1% to reach 1.8 bn dwt), increased demolition and extremely limited newbuild orders should all get an “A” for effort. Although demolition of 29m dwt was slightly below 1H 2012 levels, it was 43% above trend. However orders of 18m dwt and $16bn constituted a 35-year low and 68% down on the average since 2009 (lower than the 19.1m dwt in 1H 2009 and lower still if the Valemax orders of 12m dwt are excluded). Further pain for the shipyards and pressure on newbuild prices seems likely as the year progresses. Sale and Purchase activity was well down in value terms but marginally above trend by tonnage, reflecting the strong buying appetite for bulkers (bulker sales of 21m dwt in 1H 2016, the highest tonnage figure since 1H 2007).
Keep Up The Good Work
Although they eased back during the first half, tanker earnings continued to perform above trend with VLCC rates still averaging around $50,000/day. Product tanker earnings have also eased back somewhat this year but remain above trend, as does our index of chemical tanker earnings. The best performer across shipping was the Ro-Ro market, continuing its improvement from 2015 and 60% above trend, with the Ferry and Cruise markets also generally positive.
So shipping is experiencing some of its toughest conditions since the financial crisis and, despite its many efforts, may well be heading for an appointment with the headmaster (the bankers?).
Have a nice day.
Source: Clarksons
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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 olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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Showing 2366 to 2370 news of total 6871 |
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- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Planning Commission, India
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