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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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Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
Wednesday, 01 June 16
INDIA'S COAL IMPORTS IN APRIL 2016 DECLINED 15% Y/Y; COAL INDIA INCREASED COAL PRICES BY 6.2%
Coal India has approved raising weighted average coal prices by 6.2 per cent over the current price for both regulated and non-regulated sectors.
...
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Showing 2406 to 2410 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- London Commodity Brokers - England
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- White Energy Company Limited
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