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Monday, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
 Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that today’s global orderbook appears less onerous than previously (at 16% of the fleet), capacity levels are still important, and a look at the future of the supply side can provide an idea of just how hard a balancing act the markets still face in today’s demand conditions.
Like The High-Wire?
An indicator combining capacity and demand elements gives an idea of how difficult it might be just to maintain the current supply-demand balance, before the surplus present in many sectors today can even be addressed. The graph shows a ratio which compares the orderbook as a percentage of the fleet to ‘current’ and ‘trend’ rates of demand growth in a selection of sectors (see graph description for details). At a high level, this broadly indicates how many years of demand growth the orderbook to be delivered over the next few years equates to, and how much the supply side will need to otherwise adjust to balance things out. In many cases, even after a sharp slowdown in ordering, this looks like a real high-wire act.
How Hard Does It Look?
The orderbook for oil tankers equates to 18% of the fleet, equivalent to 8 years of ‘current’ demand growth, so there could be some work to be done there to maintain today’s balance. However, it’s the bulkcarrier sector which really illustrates the impact of slower demand growth. Today’s orderbook, 15% of the fleet, equates to 11 years of ‘current’ demand growth. In the boxship sector, relatively faster trade growth (despite an historically slothful 2015) means that today’s orderbook equates to a perhaps more manageable 4 years of ‘current’ trade growth. Other sectors reinforce the impact of demand side issues. The LNG carrier orderbook equates to 14 years of ‘current’ trade expansion (although expectations might be for improved trade growth, and the figure drops to 3 years on the basis of the ‘trend’ rate), and for car carriers the figure stands at 13 years.
Balancing Acts
Of course, in market mechanics, it’s often the supply side which adjusts, and other factors not captured by the ratio used here can lend a hand. Demolition is one obvious factor, with, for example, the relative size of potential bulkcarrier capacity growth suppressed by record levels of demolition this year so far (14.1m dwt in Q1). Delay or cancellation of the orderbook also plays a role: 42% of start year scheduled bulkcarrier deliveries failed to enter the fleet in 2015. Changes in vessel productivity, such as adjustments to operating speeds, can also impact of the absorption of capacity in the future.
Still Walking The Tightrope
Nevertheless, shipping globally still appears to be walking a tightrope in the current demand environment. Today’s orderbook equates to 7 years of ‘current’ seaborne trade growth (a rate of 2.4%), though looks slightly less daunting (5 years) if demand growth was to reach the last decade’s ‘trend’ rate (3.4%). But in current demand conditions, even to maintain the status quo, there’s a significant supply-side balancing act to perform.
Source: Clarksons
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Friday, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
Thursday, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
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Showing 2526 to 2530 news of total 6871 |
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- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Minerals Council of Australia
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
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