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Monday, 11 May 15
DRY BULK CARRIER ORDERS CRASH TO A TWENTY YEAR LOW - CLARKSONS
 In the last four months dry bulk orders have fallen to 0.4m dwt per month, the lowest level since the 1990s. This is a massive 98% reduction from the 23m dwt peak in orders in December 2007, and probably the sharpest decline in recent decades. Not really a surprise in a market where Capesize bulkers are struggling to earn $4,000/day, but a timely relief to investors with ships on the order book.
Investment Fever
This investment collapse marks the end of a remarkable phase of bulk carrier history. During the last decade, 724m dwt of new bulkers have been ordered, around 70m dwt/year. Just to put that in perspective, during the previous decade ordering averaged about 20m dwt/year.
The 5 years from 1996 to 2001 were disappointing to investors, who ordered only 1.2m dwt/month. At the time this was seen as normal, and included a spike in 1999, when investors snapped up Panamax bulkers for $19-$22m. These were probably the most profitable bulkers ordered in the industry’s post-war history. Upon delivery they sailed straight into the bulk shipping boom. Proof that “crazy investors” are not always crazy.
Softly, Softly
The next phase from 2002 to November 2006 was quite restrained, considering the rise in freight rates. Ordering edged up, averaging 2.8m dwt/month. As earnings eased in 2006, many assumed the boom was over, but they were wrong and what happened next was unprecedented. As earnings escalated owners threw caution to the wind, and the big bulker cash machine drew investors from outside shipping. In December 2007, ordering peaked at 23m dwt, and in 2007 to 2014, investment averaged 6.8m dwt/month (81m dwt/year), an astonishing number for a period mostly in global recession.
Carry On Investing
Despite the onset of the global downturn in 2008, two more bulker investment spikes followed in 2010 and 2013. With surplus bulker capacity, and China’s growth engine easing off, it’s hard to explain this investment on strictly economic grounds. Easier, perhaps, to understand the change in expectations. The memory of spectacular bulker earnings had been fresh in the minds of some investors, but a decade later and that dream is fading.
The collapse in bulkcarrier investment is a particular problem for shipyards. Many builders in China and Japan surfed the wave of bulkcarrier investment and bulkers still account for around half of tonnage on order globally. In today’s sluggish world economy, that is going to be a difficult gap to fill. The fact that bulker prices are around 5% down this year, and ordering has virtually stopped tells its own story.
Big Bulker Investment Boom
So there you have it. The spectacular run of dry bulk investment which kicked off in early 2003 has finally ended. Then China’s imports were growing at 27% a year, a big difference from the 3% growth in 2014. This is disappointing, but as serious shipping investors know, in good markets and bad, there’s still an awful lot of cargo that has to be moved around the world – it’s just a matter of who moves it.
Source: Clarksons | Hellenic Shipping News
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Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
Tuesday, 26 May 15
FOB INDONESIA COAL SWAP; UP WEEK OVER WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains week over week and lost month on month, this past week.
The Q3 swap was declined ...
Monday, 25 May 15
FOB NEWCASTLE COAL SWAP Q1'16 CLOSED LOWER THAN Q3'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.92 per MT (2.07%) month over month and US$ 0.70 week on week. ...
Monday, 25 May 15
CFR SOUTH CHINA COAL SWAP : Q3, Q4'15 & Q1'16 INCREASED M-O-M AND W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.55 (3.09%) per MT month over month and US$ 0.72 (1.41%) pe ...
Sunday, 24 May 15
INDONESIA TO INDIA PANAMAX CHARTER RATES WERE RATING AT AROUND US$ 5500
COALspot.com: The freight market softened in all segments this past week.
The BDI was dropped 7.57 percent week over week and closed at 586 po ...
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Showing 3006 to 3010 news of total 6871 |
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
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