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