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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, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- PTC India Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
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