We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 $2,000/day less than the annual average for 2012. It is therefore perhaps no surprise that demolition is surging.
The Uneven Distribution
There are several potential impacts of growth in demolition. The Chinese bulkcarrier fleet shrank in 2014, partly due to the government scrapping subsidy. The subsidy is currently set to end this year and with many of the vessels scrapped in the year to date being Chinese-owned, this could shrink the Chinese fleet further. Also, the faster pace of Handysize demolition in Q1 2015 has led the Handymax sector to consolidate its position as the largest in the dry bulk fleet in terms of vessel numbers.
An Interesting Scenario
One very important impact of the surge is the potential stemming of fleet growth. Total bulker scrapping is currently projected to increase by around 30% y-o-y, to reach 21.2m dwt in 2015. However, at the current pace of scrapping, demolition in Q1 2015 could approach a record level, and in the full year, over 35m dwt of bulkers would be scrapped, more than doubling last year’s total. This could slow growth in the bulkcarrier fleet to around 2.5% y-o-y, which would represent the slowest rate in more than a decade. In this scenario Capesize fleet growth would be limited to around 2-3%.
So demolition is surging, and could approach record levels, altering the make-up of the bulker fleet, in terms of age, the distribution across sectors and owner nationality. And whether records are broken or not this year, the increase in demolition will have a clear impact on the rate of fleet expansion.
Source: Clarksons | Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
|
|
|
Showing 3136 to 3140 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
|
| |
| |
|
