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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, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
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- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
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