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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, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
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- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- White Energy Company Limited
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
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