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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, 13 January 16
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Going through the second week of 2016 we could easily argue that at this point there are no visible signs of an imminent recovery in the Dry Bulk m ...
Wednesday, 13 January 16
IRON ORE IMPASSE - A FAILED CLAIM FOR CONVERSION - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the recent case of the “Bao Yue”, the English High Court found that the bill of lading holder was liable t ...
Tuesday, 12 January 16
5700 GAR COAL FOR DELIVERY WITHIN Q1 FELL 0.91% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin moved South direction week over week to averaging $39.96 per ton on last Friday, acc ...
Monday, 11 January 16
PORT OF NEWCASTLE SHIPPED 20% MORE COAL IN DECEMBER 2015; AVERAGE SELLING PRICE DECLINE 3.43%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.129 billio ...
Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
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Showing 2611 to 2615 news of total 6871 |
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- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Sical Logistics Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
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