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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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Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
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Showing 2446 to 2450 news of total 6871 |
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- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
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