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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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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
Tuesday, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
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 2311 to 2315 news of total 6871 |
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- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
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