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Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
 The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, especially for coal cargoes, while supply, i.e. tonnage, has kept on increasing at a high rate. However, moving forward, these dire fortunes could be reversed, as owners are doing their best to limit supply, through newbuilding cancellations and delays and scrapping of older vessels.
In its analysis of the dry bulk market conditions during the first quarter of 2016, ship owner Golden Ocean noted that “the rates observed were below operating costs in all segments and were the lowest rates observed for a whole quarter over the last thirty years. According to the Baltic Exchange, average earnings for the Capesize segment (CS4TC index) were $1,438 per day compared to $6,944 per day in the previous quarter and $4,595 per day in the first quarter last year. Panamax vessels experienced average rates of $3,077 per day against $4,453 per day the previous quarter and $4,831 per day in the same quarter last year. Supramax vessels earned on average $3,824 per day compared to $5,716 during the fourth quarter of 2015 and $6,455 in the same quarter in 2015. Half way into the second quarter, the rates have increased so that the average so far is more or less in line with operating costs, at between $5,000 and $6,000 for all three segments”.
Meanwhile, as Golden Ocean noted, “asset values dropped significantly on the back of the low rates observed in the first quarter and some sales around year end. There has recently been a small up tick from the values observed earlier in the quarter, following decent amount of buyers inspecting vessels held for sale, in particular quality tonnage. The poor rates observed in the first quarter are due to the seasonal spike of deliveries at the start of the year combined with low trade volumes in January and February. Trade volumes have picked up during March and April, in combination with a slow down of new deliveries and continued strong scrapping. Except for the rates observed towards the end of April in the Capesize segment, earnings are still hovering around operating cost levels despite decent demand, clearly indicating the significant oversupply that the dry bulk market is experiencing at the moment. At the same time, the prompt reaction in rates to increased demand also indicates that there will be volatility going forward”.
According to Golden Ocean “at the start of 2016, the official order book for the full year was 85.4 mill dwt. Deliveries in the first quarter totalled 18.1 mill dwt, which represents 21% of the full year order book. However, as has been observed for many years, a significant part of the order book is delivered in the first quarter of each year. In 2015, full year deliveries totalled 48.6 mill dwt of which 19.3 mill dwt was delivered in the first quarter almost 40% of full year deliveries. For 2015 the official order book was 79.9 mill dwt at the start of the year and thus had a delivery ratio of just above 60%. Based on the market we are observing at the moment owners are doing their utmost to delay and cancel newbuilding orders and delivery ratio in 2016 could come in lower than in 2015. Currently we are observing a slippage rate of around 45% implying full year deliveries below 50 mill dwt. With the current market environment there should be limited new orderings for the coming years. In addition to the market itself, owners are struggling with their existing fleets and financing has become scarce. This will over time reduce the orderbook as a percentage of the fleet”.
At the same time, “scrapping activity, which is mainly a function of the spot market, has been brisk in the first quarter of 2016. In total 12.5 mill dwt has been scrapped during the quarter and the net fleet growth during Q1 is therefore 5.5 mill dwt, representing 0.7% growth relative to the fleet at the end of 2015. For March net fleet growth was zero and in April we have observed negative fleet growth for the dry bulk fleet as a whole. Supramax (vessels between 40,000 and 65,000 dwt) is the segment with highest fleet growth year to date, while Panamax has seen negative fleet growth and Capesize is neutral up to the end of April”, the ship owner concluded.
Source: Hellenic Shipping News
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Friday, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Planning Commission, India
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
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