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Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
 The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressure on owners, many of whom are subject to earnings close to operating costs. This has triggered a surge in bulkcarrier demolition since the beginning of 2015. If the current rate of scrapping were to continue, there would be a clear impact on dry bulk fleet growth.
A Surge In Scrapping
Bulker demolition has surged in recent months, due to an oversupplied fleet, cooling global dry bulk trade growth and low vessel earnings. A total of 78 vessels (of a combined 5.9m dwt) were reported scrapped in the first two months of 2015, equivalent to 35% of total bulkcarrier demolition in 2014. Capesize scrapping totalled 3.3m dwt, accounting for 56% of all bulker demolition in the two month period, already equivalent to around 80% of scrapping in the sector last year. The average age at which bulker vessels were scrapped has thus fallen to below 25 years for the first time this century.
How Does It Compare?
The annual record level of bulker demolition was 33.4m dwt in 2012, coinciding with a 30% y-o-y drop in average earnings. While earnings were weak, some market indicators were considerably better than they are today. Seaborne dry bulk trade grew 7% (with 3% projected for this year) and the Baltic Dry Index averaged over 900, far above the record low of 509 reached in February 2015. In the first two months of 2015 overall bulker earnings averaged $6,545/day: around $2,000/day less than the annual average for 2012. It is therefore perhaps no surprise that demolition is surging.
The Uneven Distribution
There are several potential impacts of growth in demolition. The Chinese bulkcarrier fleet shrank in 2014, partly due to the government scrapping subsidy. The subsidy is currently set to end this year and with many of the vessels scrapped in the year to date being Chinese-owned, this could shrink the Chinese fleet further. Also, the faster pace of Handysize demolition in Q1 2015 has led the Handymax sector to consolidate its position as the largest in the dry bulk fleet in terms of vessel numbers.
An Interesting Scenario
One very important impact of the surge is the potential stemming of fleet growth. Total bulker scrapping is currently projected to increase by around 30% y-o-y, to reach 21.2m dwt in 2015. However, at the current pace of scrapping, demolition in Q1 2015 could approach a record level, and in the full year, over 35m dwt of bulkers would be scrapped, more than doubling last year’s total. This could slow growth in the bulkcarrier fleet to around 2.5% y-o-y, which would represent the slowest rate in more than a decade. In this scenario Capesize fleet growth would be limited to around 2-3%.
So demolition is surging, and could approach record levels, altering the make-up of the bulker fleet, in terms of age, the distribution across sectors and owner nationality. And whether records are broken or not this year, the increase in demolition will have a clear impact on the rate of fleet expansion.
Source: Clarksons | Hellenic Shipping News
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Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
Tuesday, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
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Showing 3086 to 3090 news of total 6871 |
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- The University of Queensland
- New Zealand Coal & Carbon
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
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