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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, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
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- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
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