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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, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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Showing 2366 to 2370 news of total 6871 |
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- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
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