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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, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Tuesday, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
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