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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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Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
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 ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
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Showing 2561 to 2565 news of total 6871 |
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- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
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