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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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Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
...
Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
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Showing 1646 to 1650 news of total 6871 |
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- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Australian Coal Association
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Planning Commission, India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- PTC India Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
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