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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, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Ma ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
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- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
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