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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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Showing 2311 to 2315 news of total 6871 |
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- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Planning Commission, India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
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