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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, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
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- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- The University of Queensland
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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