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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, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
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- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
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