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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, 01 June 16
ZERO SUPPLY TO FUEL GROWTH IN THE DRY BULK MARKET SAYS BIMCO PRESIDENT
The dry bulk market could become profitable again in 2019 – but only if a series of extremely tough and sustained measures are taken by shipo ...
Wednesday, 01 June 16
MARKET INSIGHT - LINOS KOGEVINAS
In another page from this year’s oil drama, oil has, after a series of gains, rebounded to ~$50 / barrel and immediately stopped climbing. &n ...
Tuesday, 31 May 16
CS50 INDONESIA COAL INDEX UP 0.28% COMPARED WITH A WEEK AGO
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.28 percent week over week to averaging $39.01 per ton this past week, shows ...
Monday, 30 May 16
BORYEONG POWER PLANT TO IMPORT HALF A MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea’s state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 500,000 Metric Tons of Bituminous Coal T ...
Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
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Showing 2411 to 2415 news of total 6871 |
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- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- PTC India Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- MS Steel International - UAE
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
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