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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, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
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