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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
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- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- The University of Queensland
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Planning Commission, India
- London Commodity Brokers - England
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
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