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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, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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Showing 2436 to 2440 news of total 6871 |
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- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
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