We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
 During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current market for seaborne transportation of crude oil is weak and has caused freight rates to drop to multi-year lows. Despite this, crude oil tanker shipowners are not seizing the opportunity to reduce capacity and send less efficient units to the demolition yards.
The subdued demolition activity is seen at a time when steel prices offered in Bangladesh, India, and Pakistan – the world’s top ship demolition locations – are at an all-time high. The price of steel from ship demolition is supported by high steel prices in general as well as the limited number of ships heading for demolition.
In addition to the three actively trading VLCCs demolished in the first seven months of the year, five retired VLCCs working as Floating Storage and Offloading units (FSOs) in recent years have been demolished.
However, as they are not actively trading, the demolition of these five VLCC (FSO)s does not affect the demand-supply imbalance, i.e., the freight rates. The average age of the scrapped VLCCs used as FSOs is 24 years while the average age for the three actively trading VLCCs is 22 years.
Owners take advantage of an attractive secondhand market
The lethargic pace of VLCC demolition is also explained by attractive prices for older ships in the secondhand market. According to VesselsValue, 69 VLCCs have changed hands in the Jan-July 2021 period, compared with 91 for the full year of 2020.
To some extent, what we see now is like what we saw in the period that followed the six quarters of high oil tanker earnings from Q4 2014 through Q1 2016. Following this it was not until Q3 2017 that we began to see a pick-up in demolition for VLCCs.
Time has proven that it takes time for shipowners’ demolition decision to mature, and that a weak market right in the wake of a strong one is not enough to take the final step and go for demolition.
“The low demolition level seen in the first seven months of the year for crude oil tankers surely takes some by surprise. Some are wondering why shipowners are not demolishing the excess fleet when freight rates have been sluggish for the past year,” says Peter Sand, BIMCO’s Chief Shipping Analyst.
“The reason behind this is two-fold. Firstly, the strong earnings enjoyed by everyone in the crude oil tanker shipping sector last year leaves no owner short of cash. Secondly, as secondhand prices exceed even the record-high prices offered for demolition steel, shipowners are more inclined to keep their tankers afloat and changing hands, rather than sending them to the demolition yards,” says Sand, adding:
“Yet, nothing is straightforward as oil product tankers, on the other hand are heading for a record-high level of fleet demolition in 2021.”
Source: BIMCO, By Peter Sand, Chief Shipping Analyst
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
Tuesday, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
|
|
|
Showing 431 to 435 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Ministry of Mines - Canada
|
| |
| |
|
