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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, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Thursday, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
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Showing 2316 to 2320 news of total 6871 |
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- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
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