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Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
 It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports to anxious parents. With the spread of challenges facing the industry, it’s unlikely the shipping markets would achieve many top grades. However some sectors might still achieve an “A” for effort and this week’s analysis reviews the markets’ performance in the first half.
Must Do Better!
Our Graph of the Week compares performance in the first half of 2016 to the averages since the financial crisis, as a barometer of performance against trend. First on the graph is the ClarkSea Index, our average earnings index covering all major sectors, which is 18% down on the average since 2009 and 30% compared to 1H 2015. The index actually finished the mid-year at just $8,575/day, close to its all time low of $7,444/day. Clearly room for improvement.
Heading For Re-Sits?
With widely reported historical lows in the bulker sector in the first half, Capes averaged below $5,000/day in 1H 2016, some 76% below the average since 2009. Containerships fared little better, slumping to 54% below trend while offshore rates were also almost 50% down on trend and generally hovering around OPEX levels. The prevalence of lay-up and stacking makes offshore arguably the most challenged sector at present. LPG rates also moved below trend, with VLGCs averaging $32,000/day, albeit following their stellar performance of 2015. Meanwhile trade is heading towards more muted growth with an expectation of 2.2% in 2016 compared to a trend rate of 3.2%.
“A” For Effort
Reduced fleet growth (1% to reach 1.8 bn dwt), increased demolition and extremely limited newbuild orders should all get an “A” for effort. Although demolition of 29m dwt was slightly below 1H 2012 levels, it was 43% above trend. However orders of 18m dwt and $16bn constituted a 35-year low and 68% down on the average since 2009 (lower than the 19.1m dwt in 1H 2009 and lower still if the Valemax orders of 12m dwt are excluded). Further pain for the shipyards and pressure on newbuild prices seems likely as the year progresses. Sale and Purchase activity was well down in value terms but marginally above trend by tonnage, reflecting the strong buying appetite for bulkers (bulker sales of 21m dwt in 1H 2016, the highest tonnage figure since 1H 2007).
Keep Up The Good Work
Although they eased back during the first half, tanker earnings continued to perform above trend with VLCC rates still averaging around $50,000/day. Product tanker earnings have also eased back somewhat this year but remain above trend, as does our index of chemical tanker earnings. The best performer across shipping was the Ro-Ro market, continuing its improvement from 2015 and 60% above trend, with the Ferry and Cruise markets also generally positive.
So shipping is experiencing some of its toughest conditions since the financial crisis and, despite its many efforts, may well be heading for an appointment with the headmaster (the bankers?).
Have a nice day.
Source: Clarksons
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Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
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- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- The University of Queensland
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
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