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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, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...
Friday, 24 March 17
U.S COAL PRODUCTION ESTIMATE DECLINE 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...
Thursday, 23 March 17
CAPESIZE: TAKING A BREATHER AFTER RALLYING - BUT OUTLOOK FOR WEEKS TO COME NOT SCARY - FEARNLEYS
Supramax
In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...
Thursday, 23 March 17
KOREA MIDLAND POWER COMPANY LIMITED INVITES BIDS FOR TOTAL 4.77 MILLION TONS OF BITUMINOUS COAL FOR ITS BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 2,090,000 Metric Tons of Bituminous coal f ...
Wednesday, 22 March 17
THE DRY BULK MARKET HAS UNDOUBTEDLY REBOUNDED SINCE THE SAME PERIOD LAST YEAR - KONSTANTINOS KONTOMICHIS
The Dry Bulk market has undoubtedly rebounded since the same period last year and currently enjoys healthier freight rates. The positive reversal i ...
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- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
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