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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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- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- The University of Queensland
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
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