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Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
 The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets continue to be in a state of very ill health, and owners seem to be rushing to the emergency room. But with such a youthful global fleet on the water, how might this next episode of shipping’s medical drama play out?
Off To The Infirmary
So far this year, around 8m dwt of tonnage has been reported recycled – a dramatic start, and one which suggests that 2016 could be another very strong year for demolition, after a total of 39m dwt was recycled in 2015. A quick check-up on the age profile of the world fleet shows that despite the obvious youthful bias, there is still some elderly tonnage in operation; 6% of global dwt capacity (or 112m dwt) is aged 25 years or over. However, only around one third of this amount is accounted for by the three major volume sectors, an unfortunate circumstance given the degree to which two key patients, the bulkcarrier and containership sectors, are currently suffering.
Seeking Medicine
The delivery boom over the last decade has meant that the fleet in these two sectors is very young – the average bulkcarrier is less than 9 years old. Following elevated levels of scrapping since the start of the downturn, there is now only 23m dwt of bulker tonnage left aged 25 years or more (3% of the fleet), while only 2% of boxship fleet capacity is over 25 years old – a seemingly limited relief valve.
However, the distressed market conditions are leading to younger ships being scrapped. In 2012, the bulkcarriers scrapped were aged 28 years on average, but this fell to 25 years in 2015, and 23 years in January 2016 (reaching just 20 years in the Capesize sector). For the last few years, containerships have been scrapped at an average age of 23 years, but so far in 2016 this figure has fallen to just 19 years.
Prescribing Steel Therapy
The apparent willingness to demolish more youthful ships could have the potential to eventually underpin a more positive supply-demand balance. More ships were delivered (see graph) in 1992-96 (vessels now aged 20-24 years) than in 1987-91 (ships now 25-29 years old), and only a third of tonnage delivered in 1992-96 has since been removed. Deliveries rose further past 1997, so the share of fleet capacity aged 15 years or more rises to 18% in both the bulker and containership sectors – a greater volume offering a wider range of scrapping candidates. Owners seem to have been making use of this treatment option. Since the start of 2015, 37% of bulker tonnage and 42% of boxship capacity scrapped has been less than 20 years old.
What’s The Prognosis?
So, there’s plenty of capacity which can be recycled if owners can swallow the pill of selling less elderly units. With a strong dosage of demolition, bulk fleet growth could fall below 2% this year, and supply-side fundamentals in the boxship charter market sector should remain supportive. Firm demolition is far from a cure to the challenges faced, but it could be a way to limit some of the worst symptoms.
Source: Clarksons | Hellenic Shipping News
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Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
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- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- SMC Global Power, Philippines
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