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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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Monday, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
Friday, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
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- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
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- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
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- Georgia Ports Authority, United States
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- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
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- Toyota Tsusho Corporation, Japan
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- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
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- GAC Shipping (India) Pvt Ltd
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- McConnell Dowell - Australia
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- Economic Council, Georgia
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- London Commodity Brokers - England
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- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
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- Ministry of Transport, Egypt
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- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- PTC India Limited - India
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- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
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- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
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- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
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- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
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- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
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- The State Trading Corporation of India Ltd
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- International Coal Ventures Pvt Ltd - India
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- Planning Commission, India
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- Orica Mining Services - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
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- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
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