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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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Thursday, 13 September 18
SUPRAMAX: INDO-INDIA COAL RUN WAS FIXED CLOSE TO $16000 ON ULTRA - FEARNLEYS
Capesize
Rates took a further drop in the beginning of the week, to later find a floor around mid-week reaching mid USD 7 level for c5 and just ...
Thursday, 13 September 18
SHIPPING IS INCREASINGLY CAUGHT IN THE TRADE WAR LINE OF CROSSFIRE - PETER SAND
Once again, the already long list of tariffed goods has been made even longer. Many more commodities were hit on 23 August, but September is likely ...
Wednesday, 12 September 18
THE INTERRELATIONSHIP BETWEEN LETTERS OF INDEMNITY AND CHARTERPARTY "TIME BAR" PROVISIONS - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Introduction
A recent English Court of Appeal decision provides important guidance on the applicability of charterpar ...
Wednesday, 12 September 18
IS LNG POISED FOR A NEW GROWTH CYCLE? - WOOD MACKENZIE
Gas needs to work for its long-term sustainability. But the mood music is upbeat. Just 18 months ago the LNG market was depressed, anticipating an ...
Wednesday, 12 September 18
U.S. TOTAL COAL EXPORTS TO BE 107 MMST IN 2018 AND 101 MMST IN 2019 - EIA
EIA forecasts U.S. coal production will decline by 1% to 768 million short tons (MMst) in 2018, despite a 10% (10 MMst) increase in coal exports.
...
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Showing 1621 to 1625 news of total 6871 |
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- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Planning Commission, India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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