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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, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
Monday, 13 June 16
BALTIC INDEX FLAT, INDEX FOR CAPE RISE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities flat this past week. The freight market was almost same l ...
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- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
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