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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
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