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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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Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
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- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
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