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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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Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
Thursday, 16 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
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- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
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