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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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Wednesday, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
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- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
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