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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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- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- White Energy Company Limited
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
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