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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 $50,000/day. Product tanker earnings have also eased back somewhat this year but remain above trend, as does our index of chemical tanker earnings. The best performer across shipping was the Ro-Ro market, continuing its improvement from 2015 and 60% above trend, with the Ferry and Cruise markets also generally positive.
So shipping is experiencing some of its toughest conditions since the financial crisis and, despite its many efforts, may well be heading for an appointment with the headmaster (the bankers?).
Have a nice day.
Source: Clarksons
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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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Showing 2296 to 2300 news of total 6871 |
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- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
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