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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, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
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