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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, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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Showing 2436 to 2440 news of total 6871 |
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- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Parliament of New Zealand
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- White Energy Company Limited
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
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