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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, 03 August 18
HBA HAS RISEN 28.41 PER CENT IN A YEAR TO BE AT THEIR HIGHEST LEVELS SINCE JANUARY 2012
COALspot.com: The benchmark price of Indonesian thermal coal has risen 28.41 per cent in a year to be at their highest levels since January 2012.&n ...
Thursday, 02 August 18
INDO / CHINA COAL RV'S IS PAYING AROUND USD 11,000 TO SUPRAS BSS DELIVERY SINGAPORE - FEARNLEYS
Capesize
The counter seasonally strong market during the summer months bodes well for the remainder of the year.
According ...
Wednesday, 01 August 18
JOKOWI CANCELS PLAN TO REVOKE COAL DMO - JP
President Joko "Jokowi" Widodo on Tuesday has canceled the government’s plan to revoke the domestic market obligation (DMO) for coa ...
Wednesday, 01 August 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The dry bulk market activity over the past four weeks has remained stable when compared to the previous months. There are concerns with regards to ...
Tuesday, 31 July 18
INDONESIA UNLIKELY TO CHANGE COAL SUPPLY, PRICING RULES UNTIL 2019 - REUTERS
Indonesia is unlikely to change its rules on domestic coal supply and pricing until 2019, Coordinating Maritime Minister Luhut Pandjaitan said on M ...
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- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Planning Commission, India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
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