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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 $50,000/day. Product tanker earnings have also eased back somewhat this year but remain above trend, as does our index of chemical tanker earnings. The best performer across shipping was the Ro-Ro market, continuing its improvement from 2015 and 60% above trend, with the Ferry and Cruise markets also generally positive.
So shipping is experiencing some of its toughest conditions since the financial crisis and, despite its many efforts, may well be heading for an appointment with the headmaster (the bankers?).
Have a nice day.
Source: Clarksons
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Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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Showing 2336 to 2340 news of total 6871 |
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- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
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