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Sunday, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
 The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the lowest level since 2003. This could potentially sway owners into buying new ships feeding even more into the already oversupplied fleet and worsening the condition of the dry bulk market even further.
However, it appears that the owners are keeping their cool and not jumping on the low prices.
Chief Shipping Analyst at BIMCO, Peter Sand, Says:
“The fact that ship owners have refrained from ordering new dry bulk ships despite the low newbuilding prices is positive for the future dry bulk market.
However, for there to be an actual shorter-term improvement in the market we would need to see a spike in demand or a substantial reduction of the fleet.”
All in all, dry bulk contracting has gone down substantially in 2015 compared to 2014. So far this year the total volume of new contracts placed at yards in one of the three big shipbuilding nations China, South Korea and Japan is just 11.3 million DWT. This compares to 58 million DWT of dry bulk capacity contracted last year in the same three nations.
Although orders have remained remarkably low through the year, one order by Nippon Steel & Sumitomo Metal Corp. (NSSMC) stands out, accounting for a spike in September. NSSMC wishes to replace its Capesize fleet with larger ships and ordered nine VLOCs from two yards in Japan.
China having been the largest producer of dry bulk ships in recent years has also experienced the most significant drop this year. Chinese yards have only signed contracts for 2.5m DWT of new dry bulk ships this year. In 2014, the full-year total was 34 million DWT.
“The dry bulk market has been in a slump in 2015 mainly due to a great imbalance between supply and demand. The demand for dry bulk commodities has slowed down during the year with coal taking the biggest hit.
Meanwhile on the supply side, owners have been reluctant to scrap their ships during the second half of the year at the same pace as during the first half of year, where we saw a new half-year record.
This has left the fleet at a level not corresponding with the diminishing demand. The unfavorable situation has driven the demand for dry bulk ships down and ultimately the price of newbuildings has followed suit”, adds Peter Sand.
Source: BIMCO | Hellenic Shipping News
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Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
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- Energy Link Ltd, New Zealand
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- McConnell Dowell - Australia
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- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
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- International Coal Ventures Pvt Ltd - India
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- European Bulk Services B.V. - Netherlands
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- Bhoruka Overseas - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
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- Indonesian Coal Mining Association
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- Eastern Energy - Thailand
- Bhushan Steel Limited - India
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- Wilmar Investment Holdings
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- Tamil Nadu electricity Board
- White Energy Company Limited
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- Kumho Petrochemical, South Korea
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- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
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- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
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- Banpu Public Company Limited - Thailand
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- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
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