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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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Wednesday, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
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Showing 1601 to 1605 news of total 6871 |
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- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- PTC India Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
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