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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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Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
Monday, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
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- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
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