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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, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
Wednesday, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
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- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
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