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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, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
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Showing 2211 to 2215 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
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