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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, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
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