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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, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
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