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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, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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Showing 2461 to 2465 news of total 6871 |
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- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
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