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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, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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- Planning Commission, India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Minerals Council of Australia
- Goldman Sachs - Singapore
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