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Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
 It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has been set alight, said Allied Shipping in its latest weekly report.
According to George Lazaridis Head of Market Research & Asset Valuations of Allied, there has been a growing bullish vibe being felt for several months now in this sector, generated by the successive decreases being seen in the orderbook-to-fleet ratio during the course of the past year and all indicators in the freight market pointing to an improved balance. He further noted that the order book to fleet ratio for the dry bulk segment as a whole has now dropped to 7.72%, the lowest figure we have seen in over two decades now. This plays an important role in dissipating concerns over the glut in tonnage supply that we have seen in the market, though this is only half the picture. During the course of 2016, many viewed the excessively low earnings being a directly caused by the excessive number of new buildings being delivered. Having witnessed both the drop in the order book and at the same time a considerable improvement in freight rates, one can easily make the presumption that the supply-demand balance in the market is improving and at a fairly good pace. During the course of 2017, freight rates have held at levels well above what we were seeing back in 2016 and even 2015, while the recent rally that boosted the Baltic Dry Index to above 1,000 points before the start of the grain season in the Atlantic, has only re-enforced the bullish views that have been held by many in this regard.
George Lazaridis further said, it is no surprise therefore that we have seen buyers quickly flocking back into the secondhand market with fears that they will “lose” the opportunities that are still present in the market. Despite the fact that prices have on average risen by around 50% since the low levels of March 2016, asset prices can still be considered to be fairly competitive compared to what we have seen historically since the late 90’s. As such and with earnings now providing the promise of better returns and positive cash flows for new purchases, you can see that there is excess possibility for further price gains to be noted over the coming months. What’s more is that during the time period where we faced some of the biggest difficulties in the freight market, newbuilding prices continued to hold at abnormally high levels compared to equivalent periods in the past. As such secondhand asset prices are at an even higher the normal discount against what it costs to construct a similar vessel. This leaves the conclusion that if earnings continue to stay at “good” levels it will be hard to see similarly low price levels in the future for similarly aged vessels.
All these conclusions are based on the assumption that we have reached a balance in the market and that demand will continue to grow at least at its current momentum, allowing for a continual improvement in the freight market, said George Lazaridis.
This is a fairly big if however, especially if you take a closer look at the volatility being noted in the commodity markets and the general uncertainty being played out in many of those economies that play a vital role in seaborne trade. Further shocks could derail this balance and bring another round of “pains”. Although this does need to be of concern, it seems that even if these negative scenarios play out their consequences to the market would be more minor and short-term then what similar events have caused in the recent past. As such one can’t blame those optimists out there and given the relatively lower risks that are in view, there are fair grounds to claim that opportunities are now much better than most that we have come by in the past 5 years.
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Friday, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
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- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- The University of Queensland
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
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