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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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Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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Showing 2306 to 2310 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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