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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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Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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Showing 2421 to 2425 news of total 6871 |
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- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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