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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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Tuesday, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
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Showing 1611 to 1615 news of total 6871 |
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- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- White Energy Company Limited
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