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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, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
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Showing 1606 to 1610 news of total 6871 |
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- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Australian Coal Association
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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