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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, 20 July 16
EDIBLE OIL MARKETS ACROSS THE GLOBE REMAIN UNDER PRESSURE - STELIOS KOLLINTZAS
The edible oil markets across the globe remain under pressure on the back of lackluster demand. Some of the main factors causing the low activity a ...
Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
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Showing 2356 to 2360 news of total 6871 |
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- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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