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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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Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
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Showing 2591 to 2595 news of total 6871 |
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- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Planning Commission, India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
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