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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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Thursday, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
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