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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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Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Monday, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
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- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
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