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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, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
Cape
There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
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- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
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