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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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Showing 2311 to 2315 news of total 6871 |
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- ICICI Bank Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- ASAPP Information Group - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
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