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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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Friday, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
Monday, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
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Showing 2316 to 2320 news of total 6871 |
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- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Australian Coal Association
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
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