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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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Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Africa Commodities Group - South Africa
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