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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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Wednesday, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing da ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
The new regulations for Chinese flag restricting import of Tier I ships have dominated market sentiment during the past days as buyers have been tr ...
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Showing 1666 to 1670 news of total 6871 |
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- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
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