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Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
 During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current market for seaborne transportation of crude oil is weak and has caused freight rates to drop to multi-year lows. Despite this, crude oil tanker shipowners are not seizing the opportunity to reduce capacity and send less efficient units to the demolition yards.
The subdued demolition activity is seen at a time when steel prices offered in Bangladesh, India, and Pakistan – the world’s top ship demolition locations – are at an all-time high. The price of steel from ship demolition is supported by high steel prices in general as well as the limited number of ships heading for demolition.
In addition to the three actively trading VLCCs demolished in the first seven months of the year, five retired VLCCs working as Floating Storage and Offloading units (FSOs) in recent years have been demolished.
However, as they are not actively trading, the demolition of these five VLCC (FSO)s does not affect the demand-supply imbalance, i.e., the freight rates. The average age of the scrapped VLCCs used as FSOs is 24 years while the average age for the three actively trading VLCCs is 22 years.
Owners take advantage of an attractive secondhand market
The lethargic pace of VLCC demolition is also explained by attractive prices for older ships in the secondhand market. According to VesselsValue, 69 VLCCs have changed hands in the Jan-July 2021 period, compared with 91 for the full year of 2020.
To some extent, what we see now is like what we saw in the period that followed the six quarters of high oil tanker earnings from Q4 2014 through Q1 2016. Following this it was not until Q3 2017 that we began to see a pick-up in demolition for VLCCs.
Time has proven that it takes time for shipowners’ demolition decision to mature, and that a weak market right in the wake of a strong one is not enough to take the final step and go for demolition.
“The low demolition level seen in the first seven months of the year for crude oil tankers surely takes some by surprise. Some are wondering why shipowners are not demolishing the excess fleet when freight rates have been sluggish for the past year,” says Peter Sand, BIMCO’s Chief Shipping Analyst.
“The reason behind this is two-fold. Firstly, the strong earnings enjoyed by everyone in the crude oil tanker shipping sector last year leaves no owner short of cash. Secondly, as secondhand prices exceed even the record-high prices offered for demolition steel, shipowners are more inclined to keep their tankers afloat and changing hands, rather than sending them to the demolition yards,” says Sand, adding:
“Yet, nothing is straightforward as oil product tankers, on the other hand are heading for a record-high level of fleet demolition in 2021.”
Source: BIMCO, By Peter Sand, Chief Shipping Analyst
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Thursday, 11 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Tuesday, 09 November 21
ASIA-PACIFIC IS HOME TO SOME OF THE WORLD'S LARGEST CARBON-EMITTERS - 2 CHARTS SHOW ITS RELIANCE ON COAL - CNBC
Asia-Pacific is home to some of the world’s largest carbon emitters — and experts say much of global efforts to fight climate change de ...
Tuesday, 09 November 21
CHINA DAILY COAL OUTPUT HITS MULTI-YEAR PEAK, PRICES EXPECTED TO FALL - REUTERS
China’s daily coal output hit 11.93 million tonnes last week, a multi-year high as more capacity returned to operation, the state planner sai ...
Thursday, 04 November 21
CHINA'S COAL MARKET SEES SIGNIFICANT IMPROVEMENTS: NDRC - GLOBAL TIMES
China’s top economic planner has declared initial success in its efforts to ensure coal supply and stabilize prices, saying that daily coal o ...
Thursday, 04 November 21
CHINA THERMAL COAL PRICES RISE AFTER FALLING FOR 10 DAYS - REUTERS
China thermal coal futures rebounded on Wednesday after falling for 10 days on an expected jump in fuel demand to meet heating needs amid forecasts ...
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- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
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