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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, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
Friday, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
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