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Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
 Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bulk market moving forward. In short, high scrapping activity, lower ship deliveries from 2017 onwards, as a result of negligible newbuilding activity and increased slippage, could lead to a significant improvement of the demand/supply balance of the market moving forward.
According to Pacific Basin, “Handysize and Supramax spot market rates averaged US$3,900 and US$4,570 per day net respectively in the first half of 2016, representing a 22% and 27% decline in average earnings year on year. Baltic dry bulk freight market indices continued to decline in early 2016 to new record lows for all bulk carrier types which, in February, all recorded TCE earnings of less than US$3,000 per day. Such level of earnings is below cash operating expenses and conditions are estimated to have been as poor as those of the early 1970s. Freight rates were undermined mainly by a general seasonal and Chinese New Year slowdown in demand, lingering oversupply of dry bulk tonnage and lower Chinese imports of coal. Increased activity after mid-February supported improved market freight rates – more notably in the Atlantic due primarily to increased South American grain exports – albeit from a very low base and resulting in a very weak half-year period overall for dry bulk shipping”.
In terms of supply, Pacific Basin noted that “the global fleet of 25,000-40,000 dwt Handysize and 50,000-60,000 dwt Supramax ships grew 1.4% net and 2.3% net respectively during the half year, and there has been negligible net growth in the dry bulk fleet overall since the seasonal surge in new ship deliveries in January. Following a similar pattern to last year, new ship deliveries in the first half represented 3.6% of existing dry bulk capacity and full-year deliveries are projected to fall significantly short of the scheduled order book. All-time low freight earnings encouraged increased scrapping to 1.8% of existing dry bulk capacity in the first quarter – a level not seen in over 30 years. The second quarter saw a reduced pace of scrapping due to improved freight market conditions. In the half year overall, shipowners opted to delete 2.8% of total dry bulk capacity and 2.5% of Handysize capacity rather than continue to operate their older or poorly designed ships in such depressed trading conditions. For the first time since the 1980s, we observed a meaningful number of vessels withdrawn from the market for short-term idling or longer-term lay-up”.
SHIP VALUES
The ship owner added that “values of benchmark five-year-old and newbuilding Handysize bulk carriers have reduced by 2% and 5% since the start of the year to US$9.3 million and US$19.5 million respectively as estimated by Clarksons Platou, and they appear to have stabilised. The significant gap between newbuilding and secondhand prices continues to discourage new ship ordering activity which will benefit freight market fundamentals in the future. Cancelled or abandoned newbuildings especially from Chinese shipyards are occasionally marketed for sale by shipbuilders at significant discounts”.
KEY DEMAND DEVELOPMENTS
Meanwhile, “year on year, Clarksons Platou estimate dry bulk shipping demand in the first quarter to have increased by 0.4%. Key drivers through the first half included increased iron ore exports – especially from Brazil – as well as growth in Chinese steel exports and bauxite and copper concentrates imports, and strong exports of long-haul South American agricultural products. Chinese imports of seven key minor bulks increased by 5 million tonnes or 4% year on year, reflecting slower growth in Chinese industrial output. Having declined significantly in early 2015, coal volumes have been steadier since a year ago. Reduced bauxite exports from Malaysia have been largely offset by growth in longer haul volumes from Guinea and other Atlantic exporters. US petcoke exports in January to April increased 6% year on year driven by strong growth in Indian demand which has more than offset a decline in volumes to China. Despite the marginally positive year-on-year demand data, a typical seasonal fall in dry bulk trade volumes from the last quarter of 2015 to the first quarter of 2016 contributed to record low freight rates in the first quarter. Overall dry bulk demand improved in the second quarter, particularly in the Atlantic due primarily to increased South American grain exports”, said Pacific Basin.
ORDERBOOK
Finally, “the dry bulk order book has reduced to 15% from 18% a year ago. New ordering for most dry bulk ship types was negligible in the first half of the year which is further increasing pressure on underutilised shipyards. New orders were substantially limited to thirty Valemax ore carriers dedicated to Vale’s own iron ore export trades and primarily built to replace an ageing Very Large Ore Carrier fleet. The significant order book shortfall and slippage continues, and we expect new ship deliveries in the full year 2016 to be similar to last year’s 49 million deadweight tonnes. We expect the absence of new ordering to result in significantly reduced new ship deliveries from next year onwards”, the ship owner concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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Showing 2306 to 2310 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- The University of Queensland
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
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