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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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Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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Showing 3106 to 3110 news of total 6871 |
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- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Planning Commission, India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
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