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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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Monday, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
...
Thursday, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
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- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
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