We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
 Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bulk market moving forward. In short, high scrapping activity, lower ship deliveries from 2017 onwards, as a result of negligible newbuilding activity and increased slippage, could lead to a significant improvement of the demand/supply balance of the market moving forward.
According to Pacific Basin, “Handysize and Supramax spot market rates averaged US$3,900 and US$4,570 per day net respectively in the first half of 2016, representing a 22% and 27% decline in average earnings year on year. Baltic dry bulk freight market indices continued to decline in early 2016 to new record lows for all bulk carrier types which, in February, all recorded TCE earnings of less than US$3,000 per day. Such level of earnings is below cash operating expenses and conditions are estimated to have been as poor as those of the early 1970s. Freight rates were undermined mainly by a general seasonal and Chinese New Year slowdown in demand, lingering oversupply of dry bulk tonnage and lower Chinese imports of coal. Increased activity after mid-February supported improved market freight rates – more notably in the Atlantic due primarily to increased South American grain exports – albeit from a very low base and resulting in a very weak half-year period overall for dry bulk shipping”.
In terms of supply, Pacific Basin noted that “the global fleet of 25,000-40,000 dwt Handysize and 50,000-60,000 dwt Supramax ships grew 1.4% net and 2.3% net respectively during the half year, and there has been negligible net growth in the dry bulk fleet overall since the seasonal surge in new ship deliveries in January. Following a similar pattern to last year, new ship deliveries in the first half represented 3.6% of existing dry bulk capacity and full-year deliveries are projected to fall significantly short of the scheduled order book. All-time low freight earnings encouraged increased scrapping to 1.8% of existing dry bulk capacity in the first quarter – a level not seen in over 30 years. The second quarter saw a reduced pace of scrapping due to improved freight market conditions. In the half year overall, shipowners opted to delete 2.8% of total dry bulk capacity and 2.5% of Handysize capacity rather than continue to operate their older or poorly designed ships in such depressed trading conditions. For the first time since the 1980s, we observed a meaningful number of vessels withdrawn from the market for short-term idling or longer-term lay-up”.
SHIP VALUES
The ship owner added that “values of benchmark five-year-old and newbuilding Handysize bulk carriers have reduced by 2% and 5% since the start of the year to US$9.3 million and US$19.5 million respectively as estimated by Clarksons Platou, and they appear to have stabilised. The significant gap between newbuilding and secondhand prices continues to discourage new ship ordering activity which will benefit freight market fundamentals in the future. Cancelled or abandoned newbuildings especially from Chinese shipyards are occasionally marketed for sale by shipbuilders at significant discounts”.
KEY DEMAND DEVELOPMENTS
Meanwhile, “year on year, Clarksons Platou estimate dry bulk shipping demand in the first quarter to have increased by 0.4%. Key drivers through the first half included increased iron ore exports – especially from Brazil – as well as growth in Chinese steel exports and bauxite and copper concentrates imports, and strong exports of long-haul South American agricultural products. Chinese imports of seven key minor bulks increased by 5 million tonnes or 4% year on year, reflecting slower growth in Chinese industrial output. Having declined significantly in early 2015, coal volumes have been steadier since a year ago. Reduced bauxite exports from Malaysia have been largely offset by growth in longer haul volumes from Guinea and other Atlantic exporters. US petcoke exports in January to April increased 6% year on year driven by strong growth in Indian demand which has more than offset a decline in volumes to China. Despite the marginally positive year-on-year demand data, a typical seasonal fall in dry bulk trade volumes from the last quarter of 2015 to the first quarter of 2016 contributed to record low freight rates in the first quarter. Overall dry bulk demand improved in the second quarter, particularly in the Atlantic due primarily to increased South American grain exports”, said Pacific Basin.
ORDERBOOK
Finally, “the dry bulk order book has reduced to 15% from 18% a year ago. New ordering for most dry bulk ship types was negligible in the first half of the year which is further increasing pressure on underutilised shipyards. New orders were substantially limited to thirty Valemax ore carriers dedicated to Vale’s own iron ore export trades and primarily built to replace an ageing Very Large Ore Carrier fleet. The significant order book shortfall and slippage continues, and we expect new ship deliveries in the full year 2016 to be similar to last year’s 49 million deadweight tonnes. We expect the absence of new ordering to result in significantly reduced new ship deliveries from next year onwards”, the ship owner concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
|
|
|
Showing 2331 to 2335 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- The University of Queensland
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
|
| |
| |
|
