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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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- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Australian Coal Association
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
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