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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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
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 ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- PTC India Limited - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
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