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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, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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Showing 2306 to 2310 news of total 6871 |
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- Central Java Power - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
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