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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, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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Showing 2421 to 2425 news of total 6871 |
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- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
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