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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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Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
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- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
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