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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, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
Tuesday, 18 October 16
COAL PRICES KEPT CLIMBING
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
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- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
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- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
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- Australian Coal Association
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- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
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- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
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- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
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