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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, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
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- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Planning Commission, India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
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