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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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Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
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Showing 2426 to 2430 news of total 6871 |
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- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Australian Coal Association
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
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