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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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Tuesday, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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Showing 2206 to 2210 news of total 6871 |
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- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- MS Steel International - UAE
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