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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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Monday, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
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- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
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- The Treasury - Australian Government
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- Videocon Industries ltd - India
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- Standard Chartered Bank - UAE
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- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
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- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
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- Goldman Sachs - Singapore
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- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
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- Gujarat Sidhee Cement - India
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- Australian Coal Association
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- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
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- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
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- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
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- McConnell Dowell - Australia
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- Romanian Commodities Exchange
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- White Energy Company Limited
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- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
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- Economic Council, Georgia
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- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
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- Merrill Lynch Commodities Europe
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- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
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- Attock Cement Pakistan Limited
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- Karaikal Port Pvt Ltd - India
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- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
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- OPG Power Generation Pvt Ltd - India
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- Petron Corporation, Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
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- Parliament of New Zealand
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- Lanco Infratech Ltd - India
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- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
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- Chamber of Mines of South Africa
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Coal and Oil Company - UAE
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