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Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
 The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered from weak freight rates stemming from falling demand and an oversupply of ships. However, despite worsening freight market conditions, the demolition of dry bulk tonnage has not been adapting fully to this trend as could be expected, at least until now. During 2014 bulk carriers equaling 16 million dead weight tons (DWT) were sold for demolition, down from more than 23 million DWT in 2013.
Scrap prices are under pressure from a general diminishing demand for steel in addition to cheap steel coming out of China. With low scrap prices, currently around USD 370 per light displacement ton (LDT) owners are more reluctant to let go of their ships despite being pressured from poor freight market conditions. However, data from the first four months of 2015 shows that more owners are scrapping their ships than ever before.
Since the beginning of 2015 demolition has gone up for all of the ship sizes within the dry bulk segment with Capesizes carrying the lions share. In 2014, 25 Capesize ships totaling more than 4.2 million DWT were scrapped. With not even half of the year behind us the numbers have already more than doubled. During the first four months of 2015, 52 Capesizes with a total DWT of around 8.7 million have been sold for demolition. The numbers are hastily approaching the level of 2012 where a record total of 70 Capesize ships where scrapped.
Chief Shipping Analyst at BIMCO, Peter Sand, Says:
“The high amount of Capesize demolition will benefit the segment. Although increasing scrapping was expected the actual development exceeded BIMCOs expectations. This could have a positive impact on the market.”
The demolition of Panamax ships has also been on the rise in 2015 and although the development is not quite on par with the Capesizes it is still substantial. In 2015 as much as 2.6 million DWT has already been sold for demolition equaling more than half of last year’s total where 4.8 million DWT were scrapped.
For Handymax and Handysize demolition has also increased in 2015. For Handymax just over 1 million DWT of tonnage has been scrapped so far in 2015, 34 % more than the same period last year. For Handysize the numbers are 2.2 million DWT so far, up 79% from last year.
“The increase in Capesize scrapping comes at a much needed time for the market. Looking at the development so far this year the fleet growth has actually been negative, with a reduction of 0.8 %.”, adds Peter Sand
Source: BIMCO | Hellenicshipping
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Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Posco Energy - South Korea
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- The University of Queensland
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
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