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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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Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
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- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
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